In Latin America, major governance challenges hinder the positive impact natural resources could have on economic and social development. In this post the authors put forth four priority actions that can shape the region’s extractive sector in the years to come.
Mining subcontractors are important taxpayers and drivers of economic development. But they have not received the same level of attention as mining companies do in terms of transparency, accountability or tax contributions.
Some oil, gas and mining companies reporting their payments to governments under U.K. law have omitted important elements. Publish What You Pay and NRGI have raised concerns around the omissions, and authorties are taking action.
As a global transparency initiative prepares to require member governments to publish the contracts they sign with oil, gas and mining companies, an executive for French oil major Total discusses the potential benefits of contract disclosure for investors in Myanmar.
Daniel Kaufmann, Erica Westenberg, Rebecca Iwerks, Joseph Williams, Rob Pitman
Major enhancements of the global norms governing transparency in natural resources are afoot. Progress on these issues helps ensure that EITI remains relevant as a global standard for extractives transparency and reflects emerging best practices in implementing countries.