ONE Welcomes G7 Summit News on Extractives Transparency

WASHINGTON – The ONE Campaign welcomes the progress made on key development priorities today at the Brussels G7 Summit. In particular, ONE applauds the call for global standards on project-level reporting of payments from extractives companies.

Tom Hart, US Executive Director of ONE, said:

“G7 leaders have kept the ball rolling forward on transparency, health, agriculture and the push for ambitious new goals on development. We welcome the commitment to clear and measurable objectives for the post-2015 agenda, and we are pleased to see leaders calling for action on AIDS and a successful replenishment of the GAVI vaccines initiative in 2015.

The call for global standards on project-level reporting of payments from extractive companies to governments in all countries in which they operate sends an important signal that transparency must be the norm for governments and businesses worldwide. This is a particularly salient message given recent efforts by some oil companies to undermine the global move toward project-level reporting in the US. This, and the acknowledgement that releasing information on who owns and controls companies and trusts can benefit developing countries, must be built upon at the G20 later this year.

Today’s outcome is good, especially considering the special circumstances, and we look forward to next year’s summit in Germany, which promises to be the most ambitious and successful yet for development. Next year, leaders will meet as the world debates whether to launch a huge push to end extreme poverty and transform opportunities for the poorest. Under Chancellor Merkel’s leadership, they must show that they can play their full part in that historic mission.”