Over the last two decades, the disclosure of project-level payments to governments has become a global norm in the mining, oil, and gas sectors, thanks to overwhelming investor support.

The Alliance’s Extractive Industries working group has played a key role in mobilizing investor support for extractive payment disclosure through Section 1504 of the Dodd-Frank Act and EITI.

The resulting disclosures serve a corruption-deterring purpose and reduce the regulatory costs of non-compliance for companies, as well as inform citizens in resource-rich countries of the public revenues generated by extractive industry projects. Payments transparency data also aid analysts in forecasting cash flows and evaluating risks to petroleum fiscal regimes.

On Tuesday, November 16, the Alliance hosted Aubrey Menard, Senior Policy Advisor Extractive Industries Transparency, Oxfam America, and Alexander Schay, Director of Research, Emerging Markets Investor Alliance to discuss and provide an overview on the current situation with payments-to-governments disclosures, as well as their value to investors and analysts.

This event served as a global standard overview on project-level payment disclosure and its evolution, an update about payment disclosure implementation in the United States (under the Securities and Exchange Commission rules to implement Dodd-Frank Section 1504) and globally through the EITI, noting opportunities and challenges.

The event was moderated by Pavel Laberko, Director, Extractive Industries Program, Emerging Markets Investors Alliance.