NEWS
15.11.07
ICMM President testifies to U.S. House of Representatives Committee on Financial Services
ICMM President Paul Mitchell was invited to testify at the U.S. House of Representatives Committee on Financial Services hearing in Washington on 25 October 2007. The hearing examined the economic development of resource-rich countries. Paul was invited to present his views on the links between good governance, revenue transparency and poverty reduction.
During the hearing Paul referred to some of the findings from ICMM's Resource Endowment initiative and highlighted that in creating prosperous communities, the key initial factor is a strong commitment to economic and legal reform. He noted that while transparency is an essential component of reform programs, the agenda is much broader than transparency alone.
In order to bring about reform, the key leverage point is national governments in host countries, as they decide who gets access to resources and under what conditions. Paul said that governments require support from three important groups - international agencies to develop capacity, civil society to ensure accountability and companies to make the case for good practice by demonstrating superior outcomes on the ground.
ICMM's Sustainable Development Framework, which commits member companies to public disclosure in accordance with the Global Reporting Initiative with independent assurance of reporting, is a significant step in improving accountability and public trust.
RELATED PUBLICATIONS
'Minerals taxation regimes: A review of issues and challenges in their design and application'
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Resource Endowment initiative - Toolkit
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Ghana: Action Learning through Partnerships - Spotlight 11
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The Case for Partnership at Local, National and Global Levels - an award winning essay
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Resource Endowment initiative - Spotlight 5 - Resource Endowment Guide
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ICMM Newsletter - December 2008
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Resource Endowment initiative - Spotlight 12 - Peru
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Resource Endowment initiative - Spotlight 10 - Taxing Challenges
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Resource Endowment initiative - Country case study - Ghana
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Resource Endowment initiative - Country case study - Peru
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RELATED LINKS
- Mining and economic development
- Resource Endowment initiative
- Mining in Tanzania - at a watershed
- Minerals taxation regimes - report published with the Commonwealth Secretariat
- 'Investing in a better future' - ICMM's December Newsletter
- ICMM partners with University of Manchester for event on mining and the Andean region
- ICMM at the Geneva Trade and Development Forum
- ICMM publishes new spotlight on Ghana
- ICMM shares Peru findings in London
- Kathryn McPhail wins global essay award
SUSTAINABLE DEVELOPMENT FRAMEWORK
Principle 09:
Contribute to the social, economic and institutional development of the communities in which we operate
Principle 01:
Implement and maintain ethical business practices and sound systems of corporate governance.
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