From BP in the Gulf of Mexico to Shell in the Niger Delta, business, NGOs and politicians increasingly talk about social licence to operate. But what does it really mean?

Business leaders, politicians and civil society set a common direction towards new global agreements on climate change at the UN climate conference in New York last week . Next year will also see a new set of global goals to meet the worlds most pressing development and sustainability problems.

Direct involvement of the private sector is no longer debated. It is now a question of how much and some studies suggest that at least $1tn of private investment is needed.

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