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What is the Natural Resource Charter?

The Natural Resource Charter is a set of economic principles for governments and societies on how to use the opportunities created by natural resources effectively for development. The Charter comprises twelve precepts, or principles, that encapsulate the choices and suggested strategies that governments might use to increase the prospects of sustained economic development from natural resource exploitation.

Why design a Natural Resource Charter?

The Charter is intended to provide guidance for governments and societies on a complex but important chain of economic decisions. It is not intended as a political commitment mechanism, but instead to help citizens of resource-rich economies, and their respective governments, make more informed decisions regarding the use and management of the country's potential resource wealth.

The Charter will be a common ownership global public good. It has been drafted by a group of academics and practioners, including economists Mike Spence (Nobel Laureate, University of Stanford), Paul Collier (Director of the Centre for the Study of African Economies, Oxford University), Tony Venables (Director of the Oxford Centre for the Analysis of Resourch Rich Economies, Oxford University) and Karin Lissakers (Director of the Revenue Watch Institute, New York City). The full list of contributing authors can be found here.

The Charter is the work of independent academics and practioners and has received generous support from the Bill and Melinda Gates Foundation.