MEP backs 'Publish What You Pay' bid

Source: Tamworth Herald
Date: 30 Mar 2022

LOCAL Euro MP Phillip Bennion has pledged to back a campaign to force multinational companies to reveal how much they pay to extract oil, gas and other resources from third world countries.

Development charity leaders supporting the ‘Publish What You Pay’ campaign met Phil and other MEPs in Brussels last week.

Tearfund, with Micah Challenge International, brought 30 campaigners from five European countries to the European Parliament to lobby for strong transparency rules at EU level for extractive companies.

The move follows proposed changes to the EU Transparency and Accounting Directives announced by the European Commission last October, which would mean Europe’s largest extractive companies must publish what they pay in each country where they operate.

Phillip Bennion, the area’s new Lib Dem MEP with a seat on the Parliament’s Employment Committee, said: “Transparency is important, especially when it comes to the developing world. We need to ensure that local communities benefit from the mineral wealth on their own doorstep and are not exploited.

“Oil coming from Nigeria and elsewhere supports the economy and way of life which we have become used to in Europe.

“European citizens should be told what the money we pay for petrol or diesel is spent on by big multinational companies operating in developing countries.”

Tamworth Herald