Publish What You Pay Wins “Commitment to Development” Award

US chapter lauded for supporting passage of oil and mineral transparency law

WASHINGTON, D.C. —The Center for Global Development (CGD) and Foreign Policy magazine today presented the global Publish What You Pay (PWYP) coalition with the 2010 Commitment to Development Award, in special recognition of the U.S. chapter of PWYP’s role in the passage of a landmark provision in the Wall Street Reform and Consumer Protection Act requiring energy and mining companies to make public their payments to governments.

"This award is a testament to the commitment and hard work of the over 600 organizations that work together around the world as Publish What You Pay," said PWYP-US director Isabel Munilla. "The success of our campaign to pass this important legislation shows that transparency is not a partisan issue."

The PWYP coalition works in nearly 70 resource-rich countries to help citizens hold their governments accountable for the payment, receipt and management of natural resource revenues. The US chapter of the coalition worked for several years with Senate champions Benjamin Cardin (D-MD) and Richard Lugar (R-IN) and Congressman Barney Frank (D-MA) on the legislation, which requires energy and mining companies registered with the Securities and Exchange Commission (SEC) to disclose payments made to the U.S. and foreign governments for oil, gas or minerals.

"Publish What You Pay's dedication to increasing openness about revenues in resource-rich countries reflects CGD's conviction that development is about more than aid," said CGD president Nancy Birdsall. "We hope this award shines a spotlight on the passage of the Cardin-Lugar Amendment and encourages the Securities and Exchange Commission to move quickly to put into place regulations that effectively enforce the provision."

"The efforts of Publish What You Pay to promote transparency within governments and extractive industries are an innovative approach that epitomize the kind of smart, practical interventions that have large consequences that deserve to be widely recognized," said Moisés Naím, former Foreign Policy editor-in-chief.

The SEC will issue final regulations in April 2011, and disclosures are expected in mid to late 2012.

"In a time when aid budgets are tight, this measure will go a long way to unlocking resources to fight poverty," Munilla said. "Other key markets must sign on to this effort to cover the largest possible number of oil, gas and mining companies. With the help of our congressional champions, the Center for Global Development, and others, we are confident that we can make this happen."

Public availability of payment information will enable citizens to hold their governments accountable for the use of these revenues.

“Citizens on the Gulf coast of the U.S., in the Niger Delta, and all around the world deserve to know how much their governments receive for the development of natural resources,” Munilla said. “That’s why we are calling on other governments, including the United Kingdom, Canada, and Australia, to adopt similar requirements."

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To view the pdf version of the press release, please click here

For more information:

Commitment to Development Award: http://www.cgdev.org/section/initiatives/_active/cdaward
Publish What You Pay US: www.openthebooks.org | www.pwypusa.org
Publish What You Pay: www.publishwhatyoupay.org

Contact: Isabel Munilla - imunilla@pwypusa.org
(202) 525-2754 - (202) 680-4606 mobile

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PWYP US MEMBERS: ActionAid International USA • Amnesty International USA • Bank Information Center • CARE • Catholic Relief Services • Columban Center for Advocacy and Outreach • CorpWatch • Crude Accountability • EARTHWORKS • Earthrights International • EG Justice • Environmental Defense Fund • Friends of the Earth • Gender Action • Global Financial Integrity • Global Rights • Global Witness • Globalization Challenge Initiative • Government Accountability Project • Human Rights Watch • International Budget Project • International Labor Rights Forum • Justice in Nigeria Now • ONE Campaign • Open Society Policy Center • Oxfam America • Pacific Environment • Presbyterian Church USA • Project On Government Oversight • Revenue Watch Institute • Robert F. Kennedy Center for Human Rights • Sierra Club • Sustainable Energy & Economy Network