Impact Benefit Agreements Lab
Impact Benefit Agreements (IBAs) are increasingly being negotiated and implemented in communities across the globe. These bilateral agreements, between private resource developers and impacted local or Indigenous communities, work to ensure that communities impacted by resource development capture and retain some of the monetary and/or non-monetary benefits from resource extraction. From a local perspective, the goal of IBAs is to contribute to local sustainability and mitigate adverse community impacts associated with resource projects. On the other hand, IBAs serve industry by helping them cultivate and maintain a good reputation, while also de-risking resource projects, since benefit agreements contribute to the receival and maintenance of the social license to operate.
This lab addresses knowledge gaps, concerning IBAs, by producing and sharing publicly accessible material which:
- Describe and support the design of IBAs that provide a fair distribution of revenues from resource development projects, and
- Identify the best practices for negotiating and implementing IBAs