- Report year:2024
- Report author: CommDev , IFC
- Organisation: CommDev
When a company fails to obtain social license, community opposition can ensue. This could lead to protests and other interruptions that may increase project timelines and costs and affect company reputation and stock price. Conversely, the consultation and collaboration required to obtain and maintain social license can create opportunities for companies and communities to work together, which can boost the potential for positive benefits for both groups and increase community usage of the infrastructure (such as transport systems or water and energy infrastructure). Effective community engagement and development programs are key. Increasingly, companies are investing considerable resources into in-depth community assessments as well as community development strategies and activities.