CIDSE is acutely aware of the need for greater transparency and accountability in relation to global revenue flows. Our partners in resource-rich countries such as the DRC, Cambodia and Peru have voiced how difficult it is for them to get accurate data about payments made by transnational corporations to their governments.
An important condition to guarantee transparency is a global legal and political framework which exposes an accurate picture of transnational corporations’ contributions to national economies. CIDSE therefore welcomes the legislative processes in the US and the EU to enforce project-by-project information disclosure by companies engaged in extractive activities and timber (EU legislation).
This can be considered a first step towards full country- by- country reporting of information crucial to citizens, investors and administrations to monitor whether companies are paying their fair share for exploiting their countries’ resources.