Sentence examples for extractive sectors from inspiring English sources
SPGs might be most useful for well-managed countries looking to widen their pool of investors—say, those looking to diversify outside the extractive sectors.
Two-way trade between Canada and Spain reached CAD 2.6 billion in 2012, primarily in the ICT, Aerospace and Extractive sectors.
Often, communities with strong mines, mills or other extractive sectors tend to see those sectors as permanent.
Meanwhile, those same extractive sectors were the largest source of GHG emissions in 2013, accounting for 21.5percentt of the national total.
There is no denying that the sustainability impacts of the extractive sector are serious – sometimes even tragic and catastrophic.
Griffiths said it was clear the majority of foreign investment and repatriated profits, particularly in the poorest countries, was driven by the extractive sector.
The report contains comments from anonymised government officials who expressed concern at the size of recent tax breaks granted to companies in the extractive sector.
In particular, there was evidence of the recent sharp falls in oil prices hitting employment in the extractive sector, with mining shedding more than 11,000 jobs last month.
Innovation, skills upgrades, and a massive transfer of resources towards more sophisticated products and activities are needed, especially in those countries that are overly dependent on the extractive sector, the report added.
Reducing these losses requires urgent and coordinated action, the report said, calling for renewed political interest in fighting corruption, increased transparency in extractive sector transactions and a crackdown on banks that aid fraudulent transfers.
"The government recognised the problems, placed a moratorium on the sale of public land and established the land commission to come up with policies regarding land," said Robert Nyahn, programme manager of Save My Future Foundation, a Liberian NGO that monitors foreign companies in the extractive sector.
