There has been lots of movement in this area recently, partly as a result of discussions and commitments at the G8 summit in June.
8 countries have agreed to work in concert with developing countries to implement the
Extractive Industries Transparency Initiative (EITI), an international standard that aims to secure greater transparency around revenues from natural resources.
The European Union is in the process of amending its 2004 Transparency for Listed Companies Directive, to require oil, gas, mineral and logging companies to disclose payments above €100,000 to national governments for every project that they operate. This echoes provisions in Obama’s 2010 Dodd–Frank act, which require the disclosure of payments related to licenses for the exploration and extraction of oil, gas and minerals.