More than 40 Countries Join Pledge for Greater Transparency
NEW YORK, 20 September 2011 – Revenue Watch applauds President Obama's decision to apply a new standard of transparency to oil, gas and mining revenues from federal lands.
Speaking today at the formal launch of the Open Government Partnership (OGP), an initiative of governments and civil society to advance open government around the world, President Obama said the U.S. would implement the Extractive Industries Transparency Initiative (EITI). More than 35 countries participate in EITI, which requires companies to publish payments made to governments in exchange for oil, gas and minerals, and governments, in turn, to publish what they receive from companies.
"Applying EITI in the U.S. will increase public trust in the government's management of federal resources and improve the quality of that management," said Karin Lissakers, director of Revenue Watch. "The United States last year broke new ground in passing strong disclosure requirements for oil, gas and mining companies through the Dodd-Frank Act. President Obama's decision to implement EITI shows the government intends to meet the same standard."
"EITI creates a platform to provide citizens clear information on government receipts," Lissakers said. "It's a critical service for the American public in particular as the debates over the federal deficit and the tax contributions of energy companies intensify."
The OGP, which President Obama launched last year, is co-chaired by the United States and Brazil and has inspired more than 40 governments to expand their commitments to openness. Lissakers said, "We hope that the OGP will be a catalyst for globalizing the highest standards of transparency in natural resource management."
Other nations have pledged greater openness about natural resources. Indonesia has committed itself to publishing revenue information about oil, gas and coal activities through EITI implementation, and to making public more information on licensing and land use. Mexico will publish "geological and geophysical information" related to fossil fuels, to allow greater public scrutiny.
For details of national plans, visit www.opengovpartnership.org/countries.
Contact:
Robert Ruby
rruby@revenuewatch.org
1.917.443.2392
Background
Open Government Partnership
OGP's eight founding governments include Brazil, Indonesia, Mexico, Norway, South Africa, the Philippines, the United Kingdom and the United States. Its nine civil society founders are Revenue Watch, the Africa Center for Open Governance (Kenya), Instituto de Estudos Socioeconômicos (Brazil), Instituto Mexicano para la Competitividad (Mexico), International Budget Project, MKSS (India), the National Security Archive, the Transparency and Accountability Initiative, and Twaweza (Tanzania).
For more information, visit www.opengovpartnership.org.
For more information on Dodd-Frank, visit www.revenuewatch.org/companylistings.
The Revenue Watch Institute is a non-profit policy institute and grantmaking organization that promotes the effective, transparent and accountable management of oil, gas and mineral resources for the public good. Through capacity building, technical assistance, research, funding and advocacy, we help countries realize the development benefits of their natural resource wealth.
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