In response to an invitation for public comment by the Securities and Exchange Commission (SEC), prominent stakeholders expressed overwhelming support for a stronger implementing rule for Section 1504 of the Dodd-Frank Act, the oil anti-corruption rule.
BP, BHP, Eni, Gold Fields, Kosmos, Newmont, Rio Tinto, and Total all submitted statements illustrating their companies’ willingness to uphold their obligations under the EITI-supporting company expectations to publicly declare support for the EITI Standard and a mandatory disclosure rule in the US that aligns with the Standard.
PWYP-US applauds Total SAP’s recent comment letter to the Securities and Exchange Commission (SEC) which states that the compliance costs for disclosing its project-level payments to governments is “low.”
We are disappointed today that the SEC has released a weak proposed rule to implement the landmark Cardin-Lugar provision, which requires oil, gas and mining companies to publish their payments to governments.
Throughout his career, Senator Lugar was a tireless advocate for fighting global poverty and tackling corruption. The international PWYP family mourns the loss of Senator Lugar and sends our heartfelt condolences to his family, friends and staff.
As leaders within EITI, PWYP-US asks that the US Government also support advancing contract transparency as a requirement within the EITI.<
In spite of this intimidation by authorities, civil society actors in Niger continue to call out the flaws they see in the 2018 Finance Law.
Inaction by the Board equates to a vote of no-confidence in the spirit and letter of the EITI Standard itself.
ExxonMobil and Chevron should report in the US as they have reported in other EITI countries, and as other EITI implementing companies have reported in the US and around the world.