Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-06-12-Speech-3-394-500"
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"en.20130612.47.3-394-500"2
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"This report sets the financial reporting requirements for private limited companies and partnerships and aims to reduce the administrative burden for SMEs. One of the most important aspects of this new law is the requirement for all European oil, mining, gas and logging companies to publish reports on the payments they make to governments for access to natural resources. Many developing countries are rich in natural resources and revenue from the extractive industries is worth considerably more than the amount they receive in foreign aid, yet huge numbers of people continue to live in poverty. I therefore supported this report as greater transparency will help to ensure that companies make fairer deals for resource access, and should also help in the fight against corruption by giving citizens the information they need to hold their governments to account if the benefits of natural resources are not seen to be filtering down. As the law will cover around 70% of companies operating in the extractive industry, it is also an important step in setting global standards for transparency."@en1
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