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Extractive Industries Fail to See Their Way through Transparency

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By Aaron Mintzes

November 2, 2012

The Extractive Industries Transparency Initiative (EITI) is an international effort to provide a robust yet flexible standard for disclosing revenues paid to governments from oil, gas, and mining companies for the people’s valuable minerals. What’s unique about EITI is the process. Rather than some international institution or government ordaining regulations, EITI establishes a collaborative process involving representatives from industry, government, and regular folks who through consensus develop the right transparency rules to fit the society.

Follow The Money

The EITI road is a two way street. Industry publishes the taxes, royalties, and other payments they make to governments. And governments disclose the money they receive. This transparency is especially critical in developing regions of the world where riches under the ground have led to enormous conflict, corruption, and strife. For wealthier nations, the transparency standards create greater certainty and reassurance for investors and stronger accountability for elected officials. Right now, the United States is vetting nominees to serve on our own EITI working group.

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Tagged with: conflict minerals, sec, dodd-frank, extractive industries, eiti


Six out of Seven Exemptions Ain’t Bad

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By Aaron Mintzes

October 24, 2012

The debate over disclosure of the harmful chemicals used in hydraulic fracturing has come a long way in the last 12-18 months or so. Back then, the question was: Will companies disclose their special sauce? Industry has mightily attempted to shield from the public which poisons they use to extract methane from deep shale formations. It’s proprietary information, according to their lawyers. Their lawyers still continue to make that argument in a case currently pending in Wyoming. But for the most part the policy debate has shifted. Now, the question is: What should the companies disclose? And what form should the disclosure take? Led by our friends at the Environmental Integrity Project, Earthworks and a number of other organizations are asking the Environmental Protection Agency (EPA) to add the oil and gas industry to the list of sectors required to disclose the toxic chemicals associated with fracking. Section 313(b)(1)(B) of the Emergency Planning and Community Right-to-Know Act (EPCRA) confers upon private citizens the right to petition the EPA to add additional industries to EPCRA.

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Tagged with: fracking, disclosure, tri, toxic release inventory, epcra


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