Oxfam welcomes Extractive Industry Transparency Initiative Announcement

Media Releases, Mining article written on the 06 May 2016

Responding to the Federal Government’s announcement, Oxfam Australia Chief Executive Dr Helen Szoke said:

“Oxfam welcomes the announcement by the Australian Government to implement the Extractive Industries Transparency Initiative (EITI). This sends a strong signal that the government is serious about accountability in the extractive industries, and it is something that Oxfam has long been calling for.

“Implementation of the EITI will help Australians better understand exactly how we benefit from the extraction of our finite natural resources.”

“As we head into a Federal election, Oxfam also calls for both parties to commit to mandatory disclosure legislation requiring companies to report on taxes and profits on a country-by-country and project-by-project basis,” Dr Szoke said. “This is vital to ensure true transparency in the extractives sector and to bring Australia in line with other jurisdictions such as the EU, US and Canada.”

“In the wake of global scandals such as the Panama Papers leak, it has never been more important for Governments to act decisively on greater tax transparency. It is time for large companies – including in the extractives sector – to be required to make their tax affairs public for every country in which they operate.”

For interviews or more information, please contact Bianca Wordley on 0407799365 or biancaw@oxfam.org.au