UK Motion Supports Extractive Industry Transparency
In late February, United Kingdom MP Chris Mullin of the Labour Party introduced an early day motion (EDM 912) in Parliament urging the government to consider adopting legislation requiring extractive companies to fully disclose revenue payments to governments.
The EDM proposes legislation similar to the "Energy Security Through Transparency Act" (ESTT) under consideration in the US. The only major publicly listed international energy company not regulated by the US Securities and Exchange Commission, and therefore not covered under the ESTTA, has a stock market listing in the UK.
A joint letter from six civil society groups, including PWYP, Global Witness, Oxfam, Transparency International, the Tax Justice Network and Christian Aid, exhorted MPs to "assist the struggle against corruption in the oil, gas and mining industries of the world" by supporting the measure.
"The ESTT Act would reinforce the Extractive Industries Transparency Initiative (EITI), which is voluntary for countries to join, " reads the letter. "However, some US legislators are uncomfortable about adopting the ESTT Act without progress towards similar measures in other countries, notably the United Kingdom. Members of Parliament have responded to this concern by supporting Early Day Motion 912."
"The Early Day Motion under consideration in the UK comes at a critical time for the transparency movement," said Revenue Watch Deputy Director Suneeta Kaimal. "It will go far in encouraging the US Congress to pass the ESTT Act, which will establish a new standard of responsible business practices by mandating companies to report how much they pay each government for access to their oil, gas and minerals."
As of April 6, the UK motion has 68 signatures. If you are a citizen of the UK, please consider writing your parliamentarians in support of EDM 912. Please contact Tom Mayne or Joe Williams for more information.
LEARN MORE
- US Senators Lugar and Cardin Praise UK Energy Transparency Initiative (PWYP)
- Joint Letter to UK Parliamentarians on EDM 912 (pdf)
- EDM 912: Disclosure of Payments to Governments by Oil, Gas and Mining Companies (Parliament of UK)
- Energy Security and Industry Accountability Targeted in New Legislation by Bipartisan Senate Group (pdf)
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