New Resources Minister set to strengthen transparency and integrity in resources sector
IMMEDIATE RELEASE
Australia’s new Minister for Resources will strengthen transparency, integrity and good governance for Australia’s world leading resources sector, says NGO coalition, Publish What You Pay.
In the lead up to the election, the Labor party committed to introducing a beneficial ownership register, mandating country-by-country tax reporting and increasing transparency.
Many independents were elected on very strong integrity and anti-corruption platforms, including introducing a federal independent commission against corruption (ICAC). These moves and the ALP’s long standing support for strong transparency and anti-corruption laws means the new government will improve governance of Australia’s resources sector.
Clancy Moore, national director of Publish What You Pay issued the following statements:
“We congratulate Ms. King as Australia’s new Resources Minister and welcome the government’s commitments on the energy transition and improved transparency.”
“For many years, the previous government ignored calls from civil society, unions and leading companies like Rio Tinto and BHP to improve transparency in Australia’s resources sector.”
“We stand ready to work with the new Minister for Resources, industry associations and the 24 large mining, oil and companies that support the Extractive Industries Transparency Initiative (EITI) in Australia.”
“Australia should now join 56 other resource nations implementing the EITI, which is the gold standard of anti-corruption and good governance.”
“Corruption and poor governance in the resources sector can hurt communities through stolen revenue, loss of culture and land, and environmental damage. Greater transparency will benefit communities and help Australia’s plans to have a world leading critical minerals sector.”
“The energy transition requires a level playing field where resource companies disclose financial and climate related information about individual mines or gas projects. Investors and communities have been left in the dark for too long.'“
ENDS