PEST (Political, Economic, Socio-cultural, Technological) Analysis Template

Challenge the practice is addressing: PEST is a tool which helps to understand background factors which may affect or influence the operational environment of projects and looks at political, economic, socio-cultural and technological conditions to give an overview of the region of interest.

Concrete practice to achieve the expected goal: To achieve the expected goal of understanding how different regional contexts may affect the acceptance of exploration and mining projects, a PEST analysis for Social License to Operate was conducted. The analysis contained 4 steps: 1. collection of background information about particular region through desk research, 2. collection of background information through desk research for the PEST model such as political landscape and legislative framework, economic effects and influences, socio-cultural dimension and technological influences and opportunities, 3. contribution from regional stakeholders and 4. finalize PEST for Social License to Operate

Expected impact/goal of the practice: The analysis can be used a base for further Social License to Operate study in the region and provides background information with expectations and concerns from interested actors and stakeholders.

Who is the target user group of the practice/intervention or implementing the practice/intervention? The first relationship-building activity, Familiarise, is primarily for companies, but can also be for land use planning authorities and those involved in regional development and strategies, to understand the local context in which exploration or exploitation activities may occur.