PWYP members in Europe have written to the US Securities and Exchange Commission (SEC), which regulates US stock exchanges, and notified the body that the European Commission is developing counterpart legislation in Europe. The need for extractive industry transparency rules in the EU has been backed by the British and French governments which have both publicly stated their support this year following the passing in the United States of the Dodd-Frank Act.
In a letter published on the Elysée website, President Sarkozy has publicly come out in favour of new European rules requiring oil, gas and mining companies to disclose the payments they make to governments around the world. President Sarkozy stated: ‘I have decided to ask the EU to adopt, as speedily as possible, legislation to compel industries in the extractive sector to disclose their payments to all countries in which they operate.’
Sarkozy’s statement was in response to an open letter by ONE campaign co-founder Bono, urging Sarkozy – who this year has the presidency of the G8 and the G20 – to translate his ‘transformational words’ on development into ‘transformational actions’. One of the opportunities Bono highlighted was the push for transparency in the extractive sector, reminding Sarkozy that the US passed historic legislation last July requiring listed companies to publish what they pay.
On the occasion of French President Nicolas Sarkozy’s two-day tour of Africa on 26-27 March 2009, PWYP Africa and PWYP France have called on the French leader to ensure France does more to increase transparency, enable a fairer sharing of resources between companies and producing countries, and to respect its commitment to accountability in the management of natural resource revenues.
The French President is visiting the Democratic Republic of Congo, the Republic of Congo-Brazzaville, and Niger on his fifth tour of Afr
Depuis sa création en 2002, la coalition « Publiez ce que vous payez » a réussi à mettre sur le devant de la scène la nécessité d’une gestion plus claire des revenus issus des industries minières, pétrolières ou gazière dans les pays en développement. Des avancées ont été réalisées mais sur le terrain, la bataille est loin d‘être gagnée.
It is a critical time to ensure that there are clear and enforceable standards to steer implementation of the Extractive Industries Transparency Initiative. This is essential so that the EITI becomes a truly effective and credible model for measuring the governance of oil, gas and mining revenues in countries around the world that allows citizens of resource-rich developing countries to hold their government accountable.
The PWYP coalition, with a worldwide membership of over 260 NGOs, has supported the development of the EITI since its inception.
In the 2008 Report on Revenue Transparency of Oil and Gas Companies, Transparency International (TI) evaluates 42 leading oil and gas companies on their current policies, management systems and performance in areas relevant to revenue transparency in their upstream operations.
Launched at the Sorbonne on 19th June, 2003, on the initiative of Eva Joly and co-signed by 25 other reknown anti-corruption figures, the Paris Declaration against international financial corruption is set to become a major focus for campaigners against corruption across the globe.
Tomorrow (17 June) UK Prime Minister Tony Blair will unveil a British-led action plan to improve
the transparency of oil, mining and gas revenues worldwide.
A French probe into alleged possession of misappropriated assets by several African Presidents has been shut down, despite uncovering tens of millions of dollars worth of luxury properties and cars, and dozens of bank accounts belonging to the rulers, their family members and close associates.
London/Berlin – A majority of leading oil and gas companies are far from transparent when it comes to the payments they make to resource-rich countries, leaving the door open to corruption and hampering efforts to fight poverty, according to a report published today by Transparency International (TI).