Publish What You Pay urges oil, gas & mining firms to support US law on disclosure of payments to govts. - statements of support by 12 firms
Business & Human Rights Resource Centre has invited 30 companies to respond to an open letter by Publish What You Pay coalitions and several of their member NGOs.
The letter urges the 30 companies to issue statements in support of disclosure by oil, gas and mining companies of their payments to governments, and of US law and regulations mandating these disclosures.
This comes in response to action by the US Congress to undo regulations under the Dodd-Frank Act requiring transparency of these payments. The open letter to these companies states, "Country- and project-level reporting of extractive industry payments is essential for citizens in resource-rich countries to hold their governments accountable for how they use the massive revenues they receive for their finite natural resources from companies.
Oil, gas and mining companies need payment disclosure to maintain their social license to operate. Without payment transparency, citizens cannot know how much money extractive companies pay to dictatorial and non-transparent governments such as in Angola, Equatorial Guinea, and Kazakhstan."
This article was published on the BHRRC's website.