Press release: Major Victories for Transparency
The European Parliament has approved EU Transparency and Accounting Directives. Canada, which is home to some of the world’s largest mining companies, has long been seen as reluctant to embrace the trend to improve transparency in extractive industries BUT today, they have agreed to promote transparency.
Published on: Mar 4, 2016
Transcripts - Press release: Major Victories for Transparency
PRESS RELEASEMajor Victories for TransparencyGENEVA, June 12, 2013 – The Africa Progress Panel welcomes Canada’s announcementtoday that it will establish new mandatory reporting standards for Canadian extractivecompanies.The APP also applauds today’s plenary vote in the European Parliament approving EUTransparency and Accounting Directives.Canada, which is home to some of the world’s largest mining companies, has long been seenas reluctant to embrace the trend to improve transparency in extractive industries. Canada’sannouncement that it will now establish new mandatory reporting standards brings thecountry in-line with the direction taken by the US and the EU.The vote in the European Parliament creates a binding legal requirement for EU-listed andlarge privately owned oil, gas, mining and logging companies to publish all payments over€100,000 to governments in every country where they operate. This brings the EU in linewith similar extractive industry transparency rules in the United States, under the 2010Dodd-Frank Act, that will take effect this year.“This is a good day for transparency and is a major step towards a world where developingcountries are paid fair prices for their mineral resources,” says Caroline Kende-Robb,Executive Director of the Africa Progress Panel. “These developments, coming only daysbefore the G8 Summit in Lough Erne in Northern Ireland next week, increase the chancesthat the G8 Summit will provide agreements for strong action to improve rules to fight taxavoidance an evasion, and ensure transparency in extraction deals. It has becomeincreasingly clear that governments and business understand very well the benefits oftransparency for political and social stability”.Note to editors:European Parliament vote result: http://www.europarl.europa.eu/sed/votingResults.doEU process and documents:Accounting Directive:http://www.europarl.europa.eu/oeil/popups/ficheprocedure.do?reference=2011/0308%28COD%29&l=enTransparency Directive:http://www.europarl.europa.eu/oeil/popups/ficheprocedure.do?reference=2011/0307%28COD%29&l=en
Press conference 12 June 2013 at 14:00 CET, following the European Parliament vote:http://www.europarl.europa.eu/ep-live/en/schedule (live link)http://www.europarl.europa.eu/ep-live/en/other-events/ (after event)* * * * *Chaired by Kofi Annan, the former Secretary-General of the United Nations, the AfricaProgress Panel (the Panel) includes distinguished individuals from the private and publicsectors, who advocate on global issues of importance to Africa and the world.These complex, high-impact issues include global governance, food security, sustainableeconomic development, and the Millennium Development Goals, which all requireengagement from a wide range of stakeholders within and outside the continent.For further information, please contactEdward Harris, Head of CommunicationsOffice: + 41 22 919 75 36Mobile: +41 79 873 8322OrAlinka BrutschBureau: +41 22 919 75 38Mobile: +41 78 944 71 15www.africaprogresspanel.org and www.facebook.com/africaprogresspanel@africaprogress and #APR2013