The natural resources such as oil and gas from extractive industry can generate very large revenues for prosperity and economic growth for resource-rich countries. However, without good governance, the exploitation of these sources can contribute to poverty, corruption, and conflicts. In this context, International Standards are essential, in that they provide the frameworks and guidelines to improve governance and transparency, aiming for sustainable development in extractive industry.The main organizations which produce International Standards include International Finance Corporation(IFC), United Nations(UN), International Labor Organization(ILO), Organisation for Economic Cooperation and Development(OECD), and Global Reporting Initiative(GRI). International Standards can be largely categorized into the following four:
