Financial Transparency Coalition

BRUSSELS - In an open letter addressed to the European Union (EU) president, the EU presidency and the European commission, 50 MEPs from 4 different political parties (S&D, Greens, Gue/Nordic Left and ALDE) call for “a moratorium on EU public financing for mining projects until adequate standards and regulations are in place.”

A complaint over tax payments by a Glencore subsidiary could prompt the Zambian government to undertake an audit of all mining companies to assess how much tax they owe The contrast between the poverty of most people in Zambia and the natural riches of our country was highlighted this week in an incident that is highly embarrassing for one of the companies profiting from our mineral wealth. The company - Swiss commodities giant Glencore - has just announced its intention to launch itself on to the London Stock Exchange. So it will have been less than happy...

The EU must prove itself as a promoter of development, by ensuring that more funds flow from the North to the South rather than vice versa. The case of tax-dodging Zambian copper mining company Mopani, shows that money from the ‘EU bank’ – The European Investment Bank (EIB) – continues to find its way into tax havens. The EU likes to purvey itself as a benefactor for the developing world. It is the largest ODA donor and proponent of many policy documents underwriting its engagement to promote sustainable development in developing countries. However, partly due to a...