I wrote earlier today about the arguments now going on in the EU about introducing country-by-country reporting for the extractive industries.
I have to say I am not objective on this issue since I created the concept of country-by-country reporting in 2003,
Gosh, the world is bending to his mighty will!
Umm, here\’s what the Publish What You Pay campaign has to say about their genesis.
In December 1999 Global Witness published a report called A Crude Awakening, an exposé of the apparent complicity of the oil and banking industries in the plundering of state assets during Angola’s 40-year civil war. It became clear that the refusal to release financial information by major multinational oil companies aided and abetted the mismanagement and embezzlement of oil revenues by the elite in the country. The report concluded with a public call on the oil companies operating in Angola to ‘publish what you pay’.
It was clear however that the lack of transparency in the extractive industries was also a significant concern in other resource-rich but poor countries. Therefore in June 2002 Global Witness along with other founding members, CAFOD, Open Society Institute, Oxfam GB, Save the Children UK and Transparency International UK, launched the worldwide PWYP campaign, calling for all natural resource companies to disclose their payments to governments for every country of operation.
Oh. It all started in 1999 when Ritchie was still advising luvvies on tax dodging at Murphy Deeks Nolan.
And the campaign was fully up and running in 2002, a year before Ritchie came up with the concept!
I\’m off to patent the wheel: just because it already exists doesn\’t mean I cannot invent it, does it?