EU & Africa – Catholic bishops urge the EU to legislate on transparency of extractive companies

While a group of EU member states are attempting to water down new EU transparency legislation, Catholic bishops from around the world urge the EU to push forward and require European Union-listed and large unlisted extractive companies to publicly disclose the payments they make to governments worldwide. Mgr Joseph Banga from the Democratic Republic of Congo (DRC) says the upcoming revision of the EU Transparency and Accounting Directives could have a positive impact on the lives of poor people living in resource-rich developing countries. If EU companies are required to report on a country by country and project by project basis on their financial dealings with host governments, citizens will be able to monitor the management of their natural resources. Read more… Video interview of Mgr Joseph Banga (in French with English subtitles)