President Sarkozy calls for European oil and mining transparency rules

Source: PWYP International
Date: 31 Jan 2022

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.

The Publish What You Pay network applauds President Sarkozy for becoming the first European Head of State to go on record in favour of European legislation obliging companies to publish what they pay. The Publish What You Pay network joins Bono in encouraging President Sarkozy to ensure these words are transformed into action.

To read Bono’s letter click here

To read President Sarkozy’s letter click here