WHEN: Thursday 18 October 2018 - 09:00-11:30LOCATION: European Parliament, Rue du Trèves 3, Brussels, Room 3H1
Transparency International EU (TI EU) and Publish What You Pay (PWYP) invite you to a conference on transparency in the oil, gas and mining sectors. Despite having the potential to lift millions in the developing world out of poverty, natural resources can motivate and facilitate corrupt practices, particularly given the vast revenues usually involved, the remoteness of many operations, the confidentiality of most contractual arrangements and the discretionary power of public officials exercised over national resources, leading to what is known as resource curse.
Hosted by S&D Group MEP Sergio Cofferati, the event focuses on the current state and review of the EU Accounting Directive with regard to the transparency and accountability requirements for the extractives sector. This game-changing legislation was adopted in 2013 and requires large oil, gas, mining and logging companies listed and registered in the EU to disclose their revenue payments to the governments of the countries they are active in on a project-by-project basis. The European Commission is currently carrying out a review of the legislation and should publish its findings and recommendations in the first half of 2019.
The event will bring together representatives of European Parliament and European Commission as well as journalists, industry representatives and civil society from resource rich countries and the EU to exchange views on the implementation of the legislation and on possible improvements.
For further information, please contact Ilkka Penttinen email@example.com