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Article

18 Sep 2012

Author:
Oxfam, Eurodad

Oxfam-Eurodad welcome MEP's vote on EU reporting rules for extractive industries

[T]he European Parliament’s Legal Affairs Committee...voted in favour of assuming a strong position on European anti-corruption legislation, which would oblige oil, gas, mining firms and the logging industry to report what they pay to governments in countries in which they work...Oxfam...said "MEPs have set a bold example by adopting a position that will champion the rights of the resource-rich poor...that will help them hold their governments to account...[and] ensure that governments collect the money owed and use it to lift them out of poverty."...Eurodad, said “...[T]here is still a long way to go to ensure that this legislation effectively combats issues of corruption that keep people in developing countries in a cycle of poverty...[C]ompanies should be required to report additional information like sales volumes, assets and profits to put their payments into context." [Refers to Glencore, SABMiller, Shell, BP, Total]