{"title":"Leveraging keystone agents in extractive industries to advance sustainability","authors":"Bert Scholtens","doi":"10.1016/j.gloenvcha.2023.102794","DOIUrl":null,"url":null,"abstract":"<div><p>Natural resource extraction has a lasting and dramatic impact on the natural environment as well as far-reaching social effects. As such, public policy and governmental regulation are crucial for a transition to sustainability. However, on their own, these have shown to be insufficient to achieve such transformation. Changing commitment and conduct of the extractives too is important to transit. Firms in the extractives are large and highly international, and their owners are decisive for businesses’ conduct. Therefore, it is relevant to determine whom and how to influence to transit towards sustainability. To this extent, we study dominant firms and their owners in the top-10 international extractive industries. We establish that both natural resource markets and ownership of keystone agents are highly concentrated: the three largest companies earn 70% of the revenues in the ten industries studied, and the three largest shareholders in these companies on average have 22% of the shares of the keystone firms. This helps explain why regulation has been rather ineffective so far. We discuss several options to influence keystone agents. We conclude that advancing sustainability in extractives requires leveraging a limited number of keystone agents.</p></div>","PeriodicalId":328,"journal":{"name":"Global Environmental Change","volume":"84 ","pages":"Article 102794"},"PeriodicalIF":8.6000,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0959378023001607/pdfft?md5=f7dc2fcdbb78261ddbcdd0f8498a3006&pid=1-s2.0-S0959378023001607-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Global Environmental Change","FirstCategoryId":"6","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0959378023001607","RegionNum":1,"RegionCategory":"环境科学与生态学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ENVIRONMENTAL SCIENCES","Score":null,"Total":0}
引用次数: 0
Abstract
Natural resource extraction has a lasting and dramatic impact on the natural environment as well as far-reaching social effects. As such, public policy and governmental regulation are crucial for a transition to sustainability. However, on their own, these have shown to be insufficient to achieve such transformation. Changing commitment and conduct of the extractives too is important to transit. Firms in the extractives are large and highly international, and their owners are decisive for businesses’ conduct. Therefore, it is relevant to determine whom and how to influence to transit towards sustainability. To this extent, we study dominant firms and their owners in the top-10 international extractive industries. We establish that both natural resource markets and ownership of keystone agents are highly concentrated: the three largest companies earn 70% of the revenues in the ten industries studied, and the three largest shareholders in these companies on average have 22% of the shares of the keystone firms. This helps explain why regulation has been rather ineffective so far. We discuss several options to influence keystone agents. We conclude that advancing sustainability in extractives requires leveraging a limited number of keystone agents.
期刊介绍：
Global Environmental Change is a prestigious international journal that publishes articles of high quality, both theoretically and empirically rigorous. The journal aims to contribute to the understanding of global environmental change from the perspectives of human and policy dimensions. Specifically, it considers global environmental change as the result of processes occurring at the local level, but with wide-ranging impacts on various spatial, temporal, and socio-political scales.
In terms of content, the journal seeks articles with a strong social science component. This includes research that examines the societal drivers and consequences of environmental change, as well as social and policy processes that aim to address these challenges. While the journal covers a broad range of topics, including biodiversity and ecosystem services, climate, coasts, food systems, land use and land cover, oceans, urban areas, and water resources, it also welcomes contributions that investigate the drivers, consequences, and management of other areas affected by environmental change.
Overall, Global Environmental Change encourages research that deepens our understanding of the complex interactions between human activities and the environment, with the goal of informing policy and decision-making.
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