This is great news and shows the impact of campaigning and lobbying to increase the transparency of accounting for natural resources companies.
With over 40,000 actions from supporters, Unearth the Truth has been an amazing campaign to be a part of – and it worked!
On 12 June, the European Parliament passed new laws to fight corruption in the oil, gas and mining industries, with the potential to release billions of pounds to tackle poverty.
After months of hard work by MEPs, MPs, NGOs and campaigners, the EU Accounting and Transparency Directives were formally accepted in the European Parliament in June. As a result of this new legislation, extractives companies must now ensure that they publish what they pay on a project-by-project basis for extractive projects over 100,000 Euros, which will mean that local communities can track mining in their area and that there are no exemptions for any company.
This will have a huge impact on citizens living in developing countries, who will now be in a better position to hold their officials in Government to account for the ways in which they spend natural resource revenues.
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