A very common attitude in the extractives sector is that "we should put something back into the community". Laudable intentions, but the road to corporate hell is paved with good intentions. I commissioned a review of corporate projects in the Niger Delta a decade ago which found that most had failed.
But there are some really good examples of corporate initiatives that have worked well. From supporting indigenous peoples in Sakhalin to a whole range of programmes in the Niger Delta and supporting partnerships for development in Nigeria, I have seen companies who do it very well.
A common theme where it works is that the local stakeholders feel properly involved, and that the final implementation reflects their involvement. Another is that government, at local, regional and national level has to be involved too. All too often corporate initiatives are not aligned with national policies, and the initial goodwill rapidly drains away. But companies are not the right insitutions to fully develop regions and communities - governments must do their bit too.
Social Investment can be a powerful way for companies to support the places where they operate. But it takes a lot of work to get it right.