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“PEACE THROUGH COMMERCE” University of Notre Dame November 13, 2006

Lowry, November 13, 2006. “PEACE THROUGH COMMERCE” University of Notre Dame November 13, 2006. David B. Lowry – Director International Center for Corporate Accountability. The ‘framing questions:’.

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“PEACE THROUGH COMMERCE” University of Notre Dame November 13, 2006

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  1. Lowry, November 13, 2006 “PEACE THROUGH COMMERCE” University of Notre Dame November 13, 2006 David B. Lowry – Director International Center for Corporate Accountability

  2. The ‘framing questions:’ • Should the developed first world extract the natural resources it needs from ‘fragile area’ in the developing world? • Should multinational extractives profit by working in these fragile ‘areas?’ • If yes to the two previous questions, under what conditions?

  3. What multinational extractives should strive for if they work in ‘fragile areas.’ • Environmental Sustainability • Social Development • Economic Diversification • Enhanced Political Stability • Human Rights Protection

  4. How to achieve those ‘strivings:’ • Careful and thoughtful pre-operations negotiations with local, regional and national leaders about operational standards. • Create a transparent operational policy that addresses environmental, social, political and human rights issues on both the corporate and local levels. • Create an operational plan at local sites which addresses the specifics of the operation and the local community. • Objectively audit all operations.

  5. A specific example: ICCA and Freeport: • Why have an audit? • Freeport-history and challenges • Creation of a “Social, Employment and Human Rights Policy.” • Appointment of ICCA as an outside objective and public auditor.

  6. ICCA’s Procedure with Freeport • Review of the “Social, Employment and Human Rights Policy.” • Creation in conjunction with Freeport of “Guiding Principles” for Freeport’s Papuan operations. • First audit of Freeport’s core operations. • Public publication of the audit and Freeport’s response. • Follow-up on audit.

  7. Freeport’s Audit – Benefits and Challenges • Audit is intended to help Freeport’s performance more closely reflect its aspirations. • Audit is not intended to be public relations tool. • Corporate and operational change is difficult. • Audits are expensive and time-intensive.

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