EITI Chair Criticizes Board Members ExxonMobil and Chevron for Deliberately Undermining the Initiative’s Transparency Principles
For Immediate Release: May 31, 2018
Contact: Filmona Hailemichael – fhailemichael@pwypusa.org
Office: 202-579-0950
EITI Chair Criticizes Board Members ExxonMobil and Chevron for Deliberately Undermining the Initiative’s Transparency Principles
Publish What You Pay – United States Director Filmona Hailemichael’s response to Extractives Industries Transparency Initiative (EITI) Chair Fredrik Reinfeldt’s May 30, 2018 statement responding to US civil society’s grievance complaint against ExxonMobil and Chevron for refusal to disclose tax payments in the United States, ultimately leading to US Withdrawal from the EITI:
Washington, DC – “We appreciate the strong statement from EITI Chair Fredrik Reinfeldt recognizing the unprecedented nature of EITI board members, ExxonMobil and Chevron, deliberately refusing to disclose tax payments in the US as part of US EITI implementation. We agree with the Chair, that the companies’ lack of transparency undermines EITI’s principles.”
“As the Chair states, there are “no separate rules for countries, companies and civil society organizations represented on the EITI Board.” 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.”
“The Chair also cites the importance of consistency between the EITI Standard and the project-level disclosure laws in the US and Europe. ExxonMobil and Chevron have long opposed the US’s implementation of Section 1504 of the Dodd-Frank Act, and successfully lobbied to have the SEC’s 2016 rule repealed in early 2017. Meanwhile, many ExxonMobil and Chevron competitors (such as Shell, BP, Statoil, and Total) have been reporting without issue in Europe, Canada, and Norway, where similar laws are in place. ExxonMobil, Chevron, and the American Petroleum Institute are largely to blame for the continued secrecy of the US oil and mining sectors, while other major markets have embraced the transparency that investors and citizens of resource-rich countries have long sought.”
“ExxonMobil and Chevron’s damaging actions require more than strong condemnation. These companies should stop undermining transparency initiatives while simultaneously claiming credit for supporting transparency. The EITI Chair and Board should call upon ExxonMobil and Chevron to formally respond in writing, and in public, to the grievance letter civil society submitted earlier this year.”
“PWYP-US remains committed to supporting EITI and applauds Chair Reinfeldt for issuing a statement criticizing the egregious actions of ExxonMobil and Chevron.”