There are more than 2000 extractive companies listed on Germany’s stock exchange (Deutsche Borse-Frankfurt with a total market cap of €276,551,338,000. The largest of these companies is Cnooc Ltd-adr. There are 329 extractive companies listed on Deutsche Borse-Frankfurt that are also covered by the US Securities and Exchange Commission. While Germany’s extractive sector itself is small, it is a major importer of raw materials. Annually, German industry worth 50 billion euros worth of raw materials. A key issue for Germany has been how to ensure a sustainable supply of non-energy mineral imports, on which its industry and technology sector are dependent.
Sources: Revenue Watch Institute, Deutsche Welle, Federal Ministry of Economics and Technology
Misereor, Bread for the World, Fatal Transactions and the Global Policy Forum have formed a coalition to promote PWYP in Germany. Their work focuses on transparency in the banking sector, on German and European resource strategy as well as on campaigning for the respect of human rights for civil society activists in the extractive sector. They intend to publish a quarterly up-date on PWYP in German.
27 October 2011 – German PWYP members issued a press release, Transparenz auch im EU-Rohstoffsektor following the EU Commission’s amendments to the Accounting and Transparency directives, which would oblige all listed, and large non-listed, extractive companies based in the EU to publish what they pay.
17 October 2011 – Publication of An interim balance of the Extractive Industries Transparency Initiative in the Central African Region. A report commission by German members Bread for the World, Global Policy Forum and Misereor.
October 2011 – German churches published a report (auf Deutsch) on the need for coherence in Germany’s extractive policy and in support of Dodd-Frank and EU publication.
15 July 2011 – ONE Transparency International, Global Policy Forum, Misereor und Brot für die Welt – on the occasion of Chancellor Angela Merkel’s visit to resource-rich countries in Africa – held a press conference to highlight the importance of transparency in the extractive sector.