Resource control regime: Contribution to conflict prevention
Resource-rich countries are not automatically wealthy. On the contrary, in some of these countries, war and violence prevail. Resource-related conflicts are ignited by an unjust distribution of the proceeds or when living conditions in resource-rich regions deteriorate. Corrupt elites profit while the majority of the population are unable to benefit from the country's wealth. In some cases, resource wealth is controlled by rebels and used to finance their cause.
Ideally, resource wealth should serve to reduce poverty and foster development. Responsible governments and corporations ought to protect the environment, respect the rights of the population and invest the proceeds from the resource sector in development. All participants, not only resource producing countries’ governments but also companies, the governments of resource-importing countries but also finance institutes that provide companies with loans should consider it their duty to act accordingly.
National and international regulations, such as for the governance of the resource sector, on environmental and social standards, on the fight against corruption and the trade ban with conflict resources can help prevent conflicts and bring about more justice.