The UK is an important actor on the extractive industry scene. The London Stock Exchange covers 14% of the world’s extractive capital – over £1 trillion worth of extractive industry revenue. This is almost 60% of the total amount of extractive industry capital on EU markets. The UK is also home to many of the world’s large extractive companies such as BP, Royal Dutch Shell, Rio Tinto and Anglo American.
The PWYP UK coalition has engaged with UK and European Union politicians, officials, companies, investors and other stakeholders to raise awareness of the need for mandatory reporting rules for oil, gas and mining companies. In June 2013 the EU signed into law new extractive industry transparency requirements for EU-registered companies under the revised Accounting Directive. Political agreement has also been reached on the revised Transparency Directive, which will apply the same disclosure rules to EU publicly listed companies. The UK coalition is now engaging with the UK government to achieve early and effective transposition and implementation of the requirements in the UK and to ensure that the country- and project-level payment data published under the Directives meets Open Data principles and that UK Extractive Industries Transparency Initiative (EITI) data does the same. PWYP UK also works with the PWYP International Secretariat and other country coalitions on the extension of mandatory extractive industry financial reporting to other capital markets, as well as on increasing the use of tax and other payment data to hold governments and companies to account.
Miles Litvinoff Coordinator - Publish What You Pay UK
t: +44 (0)1442 825060
m: +44 (0)7984 720103
UK OGP NAP commits to fast-track Accounting Directive and to beneficial ownership transparency
October 2013 - The UK has committed in its Open Government Partnership National Action Plan to complete transposition of the EU Accounting Directive by 2014 and to have UK-listed and -registered extractive companies publish open and accessible data under the EU Directives by 2016. In an important new commitment, the NAP also commits the UK to publish company beneficial ownership data. Read more.
UK EITI Champion Jo Swinson welcomes collaboration between government, industry and civil society
October 2013 - On 9 October the Department for Business, Innovation and Skills hosted the first meeting of the UK Extractive Industries Transparency Initiative (EITI) Multi Stakeholder Group (MSG). Here Jo Swinson, the UK’s EITI Champion and Business Minster, speaks about what the group hopes to achieve in the coming months.
PWYP UK submissions on beneficial ownership transparency, corporate responsibility and the extractive industries
September 2013 - PWYP UK made submissions to the UK Business Department consultations on beneficial ownership transparency and on corporate responsibility and to the House of Commons BIS Committee inquiry into the extractive industries.
European Parliament votes through Accounting and Transparency Directives
12 June 2013 – The European Parliament voted through the Accounting and Transparency Directives by a huge majority. These oblige all EU listed, and large non-listed, companies to publish what they pay to the governments where they operate. View PWYP International’s statement here.
UK joins EITI
EU reaches a deal on EU Accounting Directive
9 April 2013 – A milestone for PWYP UK as the EU reaches a deal on the EU Accounting Directive for country- and project-level reporting for extractive companies. You can find out more by reading PWYP’s press release.
Letter to Secretary of State Justine Greening urges a stronger EITI Standard
Letter to Prime Minister urges agreement on EU Directives to support UK G8 Presidency call for more transparency
24 January 2013 PWYP UK members wrote to Prime Minister David Cameron urging prompt agreement on robust EU disclosure rules as a significant step towards progress at the G8 June 2013 summit on greater transparency worldwide on oil, gas and mining revenues.
Letter to Business Minister Swinson urges acceptance of MEPs’ compromise on EU reporting rules
13 December 2012 PWYP UK wrote to BIS Minister Jo Swinson strongly recommending UK Government and EU Council acceptance of modified proposals from the European Parliament regarding project definition, exemptions and enhanced anti-evasion provisions for the new EU Accounting Directive. Read the letter here (PDF).
Publish What You Pay welcomes strong UK Government statement on extractive industry transparency
11 October 2012 Publish What You Pay warmly welcomed the strong stance on the European Union’s company reporting rules announced by UK Deputy Prime Minister Nick Clegg and Business Minister Jo Swinson. The UK Government announcement came after a meeting between the Deputy Prime Minister, the Business Minister and singer activist Bono, founder of the ONE campaign, which is a member of the Publish What You Pay coalition. Read more.
Clarification on role of UK government in securing European extractives transparency legislation
The Publish What You Pay civil society coalition, which includes many of the UK’s leading development NGOs, disagrees with the assertion that UK Business Minister Norman Lamb and the Coalition Government have acted improperly regarding the EU accounting and transparency directives (David Cameron must force extractive companies to be transparent, Guardian Comment Is Free, 26 July). We are in positive dialogue with Mr Lamb and support efforts to achieve effective regulations from the EU negotiations, which the UK Coalition Government has led among EU governments. Although progress has been made, key issues such as project-by-project reporting of payments to governments by oil, gas and mining companies still need to be addressed. Discussions at EU level will resume in earnest in September, and we hope that the UK Government will live up to its promises and work for an effective outcome, including project-level reporting without exemptions.
On 14 February 2012 Publish What You Pay activists from CAFOD, ONE and Tearfund in London gathered outside the Ministry of Business to demonstrate their support for transparency in the extractive sector. Dressed up as miners, activists handed out Valentine themed campaign leaflets (which combined “tips for a healthy relationship” with the importance of transparency in the extractive sector. ) and posed with a giant ‘love truth’ love heart. Read more…
British All-Party Parliamentary Groups host panel on transparency in the extractive industry
On 24 January 2012, the British APPG on International Corporate Responsibility and theAPPG on the Great Lakes Region of Africa, with PWYP, hosted a panel on transparency in the extractive industries. Read more about it here.