ONE welcomes major breakthrough in extractive industry transparency

The ONE Campaign warmly welcomes today’s vote in the European Parliament on new European rules requiring oil, gas, mining and logging companies to declare the payments they make to foreign governments.  The final approval of the rules brings Europe in line with the U.S. Dodd Frank act passed in 2010, and takes the world closer to a global, legally binding transparency standard.  According to the rules approved today, EU-listed and large privately-owned oil, gas, mining and logging companies will have to report, on a country by country and project by project basis, all payments over €100,000 to governments wherever they operate.

Bono, the co-founder of ONE said:

“Today Europe sealed a deal that will enable ordinary people in Angola, Nigeria, and beyond to know how much oil, gas and mining companies pay to their governments – a great gamechanger for activists fighting extreme poverty. I have huge respect for all those who have worked relentlessly to seal this deal that will help fight poverty, hunger and injustice the world over. Hats off and glasses raised to the Irish Presidency and the European Parliament for getting it over the finish line.  It’s a great momentum builder for next week’s G8 when more progress on transparency must be made, to help turbocharge the fight against extreme poverty and hunger.”

Eloise Todd, Brussels director of ONE said:

“With five of the G8 countries now on board, Europe and the US must continue to lead by urging Canada, Japan and Russia to join the fight and help make this a truly global standard.

“In the European Parliament Arlene McCarthy deserves praise for fighting hard for a strong outcome, as does Klaus-Heiner Lehne and MEPs from the green, liberal and other groups.  Commissioner Barnier and President Barroso also deserve huge credit for getting this deal done.”

Notes to editors:

ONE is a global advocacy and campaigning organisation backed by more than 3 million people from around the world dedicated to fighting extreme poverty and preventable disease, particularly in Africa. For more information please visit www.ONE.org

ONE is part of the Publish What You Pay coalition of over 650 civil society organisations worldwide calling for greater transparency in oil, gas and mining. www.publishwhatyoupay.org

For further information or to arrange an interview with Eloise Todd please contact Dudley Curtis on +32 485 379945 or dudley.curtis@one.org.