In 2022, the OECD published a landmark report titled “Responsible Business Conduct in the Extractive and Minerals Sector in Latin America and the Caribbean”, offering a regional diagnosis of how mining and mineral-processing companies are integrating social, environmental, and ethical standards into their operations. Drawing on data from seven countries, including Peru, the report found that a majority of companies—particularly larger, internationally connected firms—have adopted formal policies to address issues such as anti-corruption, environmental protection, and community engagement. Most of these companies conduct risk-based due diligence and monitor the effectiveness of their practices, reflecting growing alignment with global standards for responsible business conduct.
However, the report also identified significant disparities. Small and medium-sized enterprises (SMEs), which make up a large portion of the sector in Latin America, often lack the resources, systems, or incentives to implement robust due diligence or public reporting. While around 74% of companies report publicly on their responsible practices, smaller operators frequently operate informally or under less scrutiny—exposing communities and ecosystems to greater risk and leaving gaps in accountability. This unevenness creates challenges for achieving a consistent level of trust across the supply chain and reinforces the importance of both regulatory oversight and capacity-building tailored to local realities.
One of the report’s most important recommendations was the strengthening of National Contact Points (NCPs) and multi-stakeholder engagement mechanisms as tools to foster social license to operate. The OECD emphasized the value of national platforms that bring together companies, governments, civil society, and local communities to address grievances, share good practices, and co-design local development strategies. In countries like Peru, this aligns with emerging initiatives such as regional EITI subcommittees and participatory budgeting processes, which aim to embed transparency and dialogue in resource governance. Overall, the OECD’s findings underline that responsible business conduct is not just about corporate policy, it’s about building institutional trust through inclusive, context-sensitive collaboration.