Together for Justice: 2012 International Gathering
August 13-15, 2012
Catholic Theological Union
Curbing Corruption, Upholding Human Rights
Led by Tutu Alicante from EG Justice
Levels of income inequality in resource-rich countries are among the highest in the world. Although a few countries have instituted mechanisms and institutions to invest their petrodollars into improving standards of living and decreasing income inequality, most resource-rich nations are systematically plundered corrupt, unaccountable political elite, often with the help of multinational companies. Meanwhile, the majority of people remain among the poorest in the world, a paradox partly explained by secrecy, corruption, and unethical business practices. Transparent, participatory and accountable modes of governance will have to be prioritized globally to address the grinding poverty and widening inequality gaps in resource-rich countries.
Curbing Corruption In the Kingdom of Obiang: Prezi Presentation by Tutu Alicante, EG Justice
Publish What You Pay
In the United States, advocates are working closely with their international counterparts to push for increased transparency in the extractive industries as a cornerstone of international relations, foreign policy and global trade.
In 2012, the US Congress enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act, an important tool to address the above-mentioned paradox. Section 1504 of the Dodd-Frank Act requires the Securities and Exchange Commission (SEC) to issue rules to address the problem of secrecy in payments made by companies involved in resource extraction, and Section 1502 requires certain special disclosures relating to conflict minerals. The SEC published proposed rules to implement these provisions in December 2010. These two proposed rules shine a spotlight on the issues of secret payments and the use of conflict minerals, making it possible to fight corruption, increase government accountability and help end the resource curse in developing countries. They would also provide material information for investors to reduce their risk, increase the options for ethical investment, and promote energy security for the United States.
Unfortunately, the SEC has not yet released final, enforceable versions of either rule, both of which had a statutory deadline of April 17, 2011.
The Dodd Frank Act’s Section 1502 on Conflict Minerals by Global Witness
More Extractives Resources
Extractive Industries (Mining and Hydrocarbons), the issue of non-renewable natural resources in Latin America and the Mission of the Church Lima by Consejo Episcopal Latinoamericano, Departamento de Justica y Solidaridad
Extractive Industries and Conflict by The United Nations Interagency Framework Team for Preventative Action
Guidebook for Evaluating Mining Project EIAs: 1st Edition by Environmental Law Alliance Worldwide
The Impacts of Mining on Women’s Health in India by Stephanie Wright
Mining and Water Pollution by the Safe Drinking Water Foundation
Responsible Mining: The Key to Profitable Resource Development by Robert Goodland, Institute for Environmental Diplomacy & Security at the University of Vermont