Corruption directly impedes development, denying millions of people around the world their rights to the education and training necessary to earn a livelihood, to basic health services and to the essential infrastructure to improve their lives.
Good governance of natural resource wealth for the benefit of a country’s citizens is the domain of sovereign governments, to be exercised in the interests of their national development and on behalf of their citizens. We believe that transparency around revenue flows from the extraction of natural resources is an important element in the fight against corruption. BHP Billiton has been a supporter of the Extractive Industries Transparency Initiative (EITI) since its inception in 2002.
A level playing field will ensure all companies disclose on the same basis and reduce the reporting burden for those operating in multiple jurisdictions. To this end, appropriate national and extra-territorial mandatory corporate reporting should complement EITI and provide a globally consistent regulatory framework for all extractive industry companies.
Governments, civil society and the corporate sector must work in partnership to support transparency and help fight corruption.
We are committed to acting transparently and publicly reporting the payments we make to governments.
Transparency is in the best interest of our shareholders, employees, contractors, partners, customers and the communities and societies in which we operate, and is essential to good governance and responsible investment
Nations that share resource wealth and are accountable to their communities have the potential to attract greater, more responsible and longer term investment.
Ensuring our host communities share in our success is critical to the long term future of our business.
Revenue transparency information must be meaningful, practical and presented in a form that is easily captured, reported and understood.
Governments, corporations and civil society organisations all have important roles to play in ensuring communities have the capacity to analyse and effectively interpret the information provided.