Preserving Cultural Heritage

Cultural heritage encompasses: (i) properties and sites of archaeological, historical, cultural, artistic and religious significance (including graves and burial sites), which can comprise natural features such as sacred graves or rock formations (tangible heritage); and (ii) cultural knowledge, innovations and practices including language, music and traditions (intangible heritage). Fund managers need to consider impacts on both types of cultural heritage regardless of whether or not the specific heritage in question is formally protected (e.g. UNESCO’s World Heritage programme).

Community concerns about impacts on cultural heritage (including cultural heritage that has no formal protection) are significant in many countries. These concerns require that companies proactively engage with local communities to understand the nature of the cultural heritage and the value placed on it by the community.

Tangible cultural heritage may only become apparent during the construction phase of an investment (so called ‘chance finds’). Companies should develop processes that allow for the protection and conservation of these types of finds.

Where cultural heritage is likely to be encountered, appropriate experts should be engaged. Consultancies focusing on environmental and social issues, or engineering, may not include technical expertise on cultural heritage.