World Heritage sites at risk from extractive industries, report warns

Jointly released by UNESCO, the Church of England Pensions Board, Greenbank, IUCN, and WWF, the report provides the most comprehensive analysis to date on the presence and proximity of areas licenced for oil, gas, and mineral exploration and production activities in and around UNESCO World Heritage sites. 

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Extractive industries can be important drivers of economic development – but they may also pose significant risks to Word Heritage. The report highlights the critical role investors can play in assessing their risk exposure and influencing extractive companies’ practices. It provides data and analysis to help investors identify and manage these risks, aligning their investment decisions with global heritage protection commitments.

"World Heritage sites are recognized for their outstanding cultural and natural value and support millions of livelihoods through tourism, agriculture, and other vital sectors. Oil, gas, and mining companies – and their investors – have a crucial role to play in safeguarding these irreplaceable places from harm.” — Lazare Eloundou Assomo, Director of World Heritage, UNESCO.

Protected, but not safe

The report reveals that companies hold oil, gas, and mining assets – licensed areas for exploration or production – in 97 of the assessed 266 natural UNESCO World Heritage sites (36%).

These include mining claims (in 58 sites), followed by oil and gas wells (in 27 sites), awarded oil and gas blocks (in 25 sites), oil and gas bid blocks (in 14 sites), and mining projects (in 10 sites). Over 800 individual assets overlapping with natural and mixed sites were identified worldwide, affecting all regions.

The report, updating a similar spatial analysis by WWF from 2015, also finds that more than half of the sites previously identified as affected by extractive overlaps remain so today – a sign of ongoing and unresolved pressure.

The risks extend beyond site boundaries. Nearly half (48%) of natural sites lie within 1 kilometre of extractive activity, and 73% are within 20 km, placing them at heightened risk of pollution, habitat destruction, and cultural disruption.

For the first time, the report also assesses risks to cultural World Heritage sites. It finds that 17% of these sites (158 out of 925) are within 500 metres of extractive activity –  primarily oil and gas, found in proximity to 124 cultural sites, compared to mining, which affects 45.

“Natural World Heritage sites are nature’s most precious gifts to humanity yet, despite their status, they are still coming under ongoing pressure from oil, gas and mining companies. As hotspots of biodiversity and culture, these sites can help support sustainable development and tackle climate change – we should not put them at risk.” - Daudi Sumba, Chief Conservation Officer, WWF International.

Extractives in World Heritage sites is an investment risk

The report underscores that the overlap between extractive activities and World Heritage sites is not only an environmental or cultural issue – it is a serious investment risk. Investors that back companies operating in sensitive locations face increasing scrutiny from regulators, shareholders, civil society, and the public.

These risks can lead to delays, fines, reputational damage, and operational shutdowns, threatening profit margins and undermining long-term investment value.

The report calls on investors and extractive companies to refrain from operating in or near these high-risk areas and to ensure their activities align with internationally recognized environmental and social standards, such as UNESCO’s guidance supporting the World Heritage 'no-go' commitment.

“Investors must act as responsible stewards of capital by ensuring the companies they finance do not put World Heritage sites at risk.  This is not just a conservation issue – it’s a matter of long-term financial and reputational risk investors need to manage.” - Laura Hillis, Director, Climate and Environment, the Church of England Pensions Board.

A shared responsibility  –  and a critical opportunity

However, the report also highlights a window of opportunity: most of the identified extractive assets are currently claims and concessions, rather than active mines or oil and gas wells. This presents a vital chance for preventive action before operations begin and irreversible damage occurs.

Strong national legal protections, comprehensive impact assessments, and increased transparency of extractive licensing processes are key – with licences that overlap or threaten areas of high conservation value responsibly phased out.

"Extractive activities have long been recognized as fundamentally incompatible with World Heritage status. It is essential that governments, investors, and companies respect these sites as off-limits to oil, gas and mineral concessions and operations.” - Tim Badman, Director of World Heritage, IUCN. 

To avoid harming World Heritage sites, investors should integrate spatial, financial, and reputational risks into their investment policies and decision-making. A growing number of companies and organizations have already taken this step – following the lead of the International Council on Mining and Metals (ICMM), the first to adopt a World Heritage ‘no-go’ commitment. 

“We believe investors have a responsibility to recognise where clear limits to economic activities must be drawn and to support companies that operate with care and responsibility. At its heart, this is about protecting what cannot be replaced. - Kai Johns, Senior Ethical, Sustainable and Impact Researcher, Greenbank.

Spatial information about World Heritage site boundaries, other international designated areas, and key global biodiversity datasets is available on IBAT. IBAT is an alliance of four of the world’s largest and most influential conservation organisations: Birdlife International, Conservation International, the International Union of Conservation for Nature (IUCN), and the United Nations Environment Programme World Conservation Monitoring Centre (UNEP-WCMC). 

About UNESCO and the World Heritage Convention

The United Nations Educational, Scientific and Cultural Organization (UNESCO) is a specialized agency of the United Nations dedicated to strengthening our shared humanity through the promotion of education, science, culture, and communication. It seeks to encourage the identification, protection and preservation of cultural and natural heritage around the world considered to be of outstanding value to humanity. This is embodied in an international treaty called the Convention concerning the Protection of the World Cultural and Natural Heritage, adopted by UNESCO in 1972.

About the Church of England Pensions Board

The Church of England Pensions Board provides retirement services to those who serve or work for the Church, managing pension schemes for over 43,000 members across 700 Church organizations. Managing around £3.4 billion in funds, it invests responsibly and sustainably for the long term to meet pension commitments. Guided by the ethics of the Church of England, it actively engages with companies and sectors to drive positive change alongside other investors, focusing on issues important to its members and their future. Find out more on our investment policy here. 

About Greenbank 

Greenbank provide investment management services for private investors, trusts and charities, and has been helping to drive change in finance, business and society through ethical and sustainable investment for over 20 years. As the sustainable investment specialists within Rathbones Group, Greenbank strive to be the natural home for investors seeking to align their investments with their values, providing sustainable investment as a standard, not an add on.

About IUCN 

IUCN is the global authority on the state of the natural world and the measures needed to safeguard it. IUCN brings together 1,500 government and civil society members, over 17,000 affiliated experts, while also helping businesses implement practices that conserve nature and benefit people. Since 1972, IUCN has served as the official Advisory Body on nature under the World Heritage Convention, leading the technical evaluation of new nominations, monitoring existing sites, and supporting conservation action through our global network and granting tools. Learn more about IUCN’s World Heritage work here.

About WWF

WWF is an independent conservation organization, with over 35 million followers and a global network active through local leadership in over 100 countries. Its mission is to stop the degradation of the planet's natural environment and to build a future in which people live in harmony with nature, by conserving the world's biological diversity, ensuring that the use of renewable natural resources is sustainable, and promoting the reduction of pollution and wasteful consumption. Find out more at panda.org