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Jubilee Statements

Monitoring the impacts of government and corporate behaviour in communities overseas.

Publish what you pay! Corruption and the MDGs

Release Date: 08-Oct-2010

On the edge of the UN’s millennium development goals summit in New York last month, singer Bob Geldof, philanthropist George Soros and a small group of others, made an effort to use the opportunity to argue for changes to EU transparency regulations.

Meeting with president of the European Commission, they argued that european-listed natural resources and mining companies extracting oil, gas, diamonds and gold should be forced to disclose payments they make to governments in developing countries. The effort follows a recent breakthrough in the US with amendment of the financial reform bill, forcing all extractive industries listed on the New York Stock Exchange to publish their payments. Improving accountability of extractive industries in rich countries, by forcing them to ‘publish what they pay’ to developing country governments, will allow citizens in poorer countries to track how their governments spend the revenue generated from large mining and extractive projects. Through the ‘Publish What You Pay’ coalition in Australia, Jubilee Australia and partners, including Oxfam Australia and Transparency International, are supporting the Extractive Industries Transparency Initiative (EITI) and increasing pressure on Australian companies to do the same. There is no doubt, breakthroughs on issues of corruption and transparency are critical to progress on the millennium development goals.