Submissions to the Australian Stock Exchange recommending stronger disclosure measures

Source: PWYP International
Date: 2 Feb 2022

PWYP members in the Asia-Pacific region have sent submissions to the Australian Stock Exchange calling for stronger reporting measures for extractive companies. Last October, the ASX opened a consultation process as it considered increasing the disclosure measures for mining and energy companies.

PWYP Australia recommended that the ASX require extractive company issuers to report on a project-by-project basis, and called for an urgent consultation on country and project level payment disclosure. PWYP Australia also provided information on how their recommendations should be implemented.

PWYP Australia’s submission was accompanied and supported by letters from several civil society organisations (see below for full list).

The Australian Council of Superannuation Investors referenced PWYP Australia’s submission in their own and called for Country-by-Country reporting and alignment with US and proposed EU legislation. The ACSI’s members represent more than AUD$300 billion in funds under management. PWYP Australia is looking to invite support from further investors through the UNPRI Clearinghouse.

Please find below a list of organisations and their submissions:

PWYP Australia
Australia Council of Super Investors, ACSI
Cambodians for Resource Revenue Transparency
Centre for Australian Ethical Research
CFMEU - Mining and Energy
Global Poverty Project
Jubilee Australia
Oxfam Australia
PWYP Indonesia
Revenue Watch Institute
Tear Australia
Uniting Church in Australia