Secret payments? Not anymore.
On August 22, the SEC released their decision to implement the Cardin-Lugar Amendment – putting into place a set of new transparency rules that require oil and mining companies to stop hiding secret payments to governments for natural resources.
This is a huge victory – for people fighting corruption, for communities living under the resource curse, and for thousands of Oxfam America supporters who spoke out for transparency.
We’re thanking the leaders in Congress who paved the way for this legislation for their leadership and hard work, including:
Will you add your name to our thank you message?
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1.5 billion people thank you
Dear Decision Makers:
More than 1.5 billion people live in countries rich with resources like oil and natural gas, but are forced to survive on less than $2 a day. For these people, living near oil and mining companies isn't a blessing, it's a curse. Resources don't mean a share of the wealth -- they mean corruption, environmental damage, loss of land and human rights abuses. The secret payments to extract these resources made by oil, mineral and gas companies and local governments make the resource curse almost impossible to fight. Thanks to your leadership on Section 1504 (The Cardin-Lugar Provision) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the people in these communities now have a chance to fight corruption and to hold their governments accountable for billions of dollars in natural resource revenues. I stand with Oxfam America and the 1.5 billion people who can benefit from this rule to thank you for your hard work and support of the Cardin-Lugar Provision.