Oxfam Reaction to Provincial Support of Payment Transparency for the Extractives Sector
Oxfam welcomes the statement of support by Canada’s provincial energy and mines ministers for federal legislation to enhance the transparency of payments in the mining, oil and gas sectors.
The statement marked the end of the 2014 Energy and Mines Ministers Conference in Sudbury, Ontario and is a clear indication of the growing support for mandatory payment disclosure across Canada, and around the world.
Lina Holguin, Oxfam spokesperson said: “Disclosing these payments would contribute to fighting corruption and provide citizens with crucial information to hold governments and companies accountable, thus ensuring better development outcomes.”
With strong federal legislation, companies would be required to disclose information that is easy to locate, access and compare - making it available for use by governments, citizens and civil society organizations in Canada and around the world, as well as by Canadian investors. Public, project-level reporting on a company-by-company basis would also be required, with no exemptions.
This new legislation would see Canada join a growing international movement focused on the disclosure of extractive company payments to governments, with similar laws passed in the U.S., the European Union and Norway.
At the global level, Oxfam has provided important leadership in support of international efforts to require corporations to publish what they pay in taxes and royalties and to hold them to account for their actions.
In Canada, Oxfam is a member of Publish What You Pay (PWYP) – a movement that for the past 10 years has called for mining and oil companies to report on the millions of dollars flowing into governments.
For more information, visit PWYP Canada’s web site at www.pwyp.ca
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