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Energy for Sustainable Development
The Triple Bottom Line Analysis
Sustainable development can be viewed as a three part test in Oil development; economic progress, environmental progress and social progress. This is translated into the “triple bottom line” analysis by which the benefits accruing form the development of Oil resources should be measured by. This is a tool employed by both the National and International Oil companies.
Often the development of Petroleum resources in the developing countries has been accompanied by gross Human rights abuses, for example In Myanmar, Niger Delta, Ecuador and Colombia among others. Multi Nationals are often in hot pursuit of this precious mineral that they ignore the plight of the inhabitants of these areas. If Oil development is to achieve sustainable development, social benefit is a goal that must be achieved hand in hand with economic development. The US and UK governments, multi nationals and Non government organizations have come up with voluntary guiding principles to guide development.
Oil Development and Human Rights
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