Former BP CEO John Browne wrote a powerful op-ed calling for strong EU transparency rules in the Financial Times today. A veteran of the oil and gas industry (he worked at BP for 10 years and helped establish the Extractive Industry Transparency Initiative), Lord Browne’s support may help influence decision makers and industry leaders take greater action on oil sector transparency. As you know, extractives transparency is an issue that we’ve been pushing hard on at ONE, so we consider this piece a big win in our fight against corruption.
His opinion on the issue is clearly outlined in the statement below:
“It is now time for Europe to mandate that energy companies disclose the details of payments they make to foreign governments… This law could transform the lives of millions of people in some of the world’s poorest countries. But it will only work if it requires companies to disclose all the important details of their payments.”
He also calls for the UK and other EU leaders to stand up to Big Oil:
“As a key party in the Council negotiations, the UK must stand firm. The coalition government should stick to the statement made by David Cameron in Lagos last year, where he called on Europe to introduce ‘legally binding measures to require oil, gas and mining companies to publish key financial information for each project and country they work on’. At the same time, other European leaders should show their mettle, and resist attempts to water down the legislation. As a driving force behind the EITI, and a champion of good governance, Germany in particular should support this law.”
Thank you Lord Browne for taking such a strong stance against corruption — we hope you’ll continue to champion transparency throughout our fight.
To read the full article, go to the Financial Times’ website (you need a subscription to read the article).