UK: Transparency advocates and civil society call on the govt. to maintain momentum on oil and mining disclosures

Author: Publish What You Pay (PWYP), Published on: 23 November 2017

Leading advocates of country-by-country payments to governments reporting by oil, gas and mining companies have joined Publish What You Pay (PWYP) UK in calling on the United Kingdom government to continue to lead the global push for greater transparency in the extractive industries as part of the fight against corruption and for citizen empowerment in resource-rich countries...[T]he UK Department for Business, Energy and Industrial Strategy (BEIS), is undertaking a review of the UK’s Reports on Payments to Governments Regulations, under which UK-registered and London Stock Exchange-traded extractive and forestry companies are required to report their payments to governments at project level for all countries where they operate. The review of the 2014 regulations is a statutory requirement...PWYP UK’s 50-page submission to the review emphasises the value of mandatory payment reporting in deterring corruption and fiscal mismanagement, preventing conflict, enhancing public understanding and citizen empowerment, and delivering business benefits for companies and investors...As well as accepting written submissions to the review, the UK government contracted PwC...to conduct stakeholder interviews with companies, investors, government officials and civil society... 

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