Sir, – Sorley McCaughey (February 27th) should be commended for raising questions around the Government’s stance on new European legislation aimed at improving transparency for the extractive industries in some of the world’s poorest countries. It is a scandal that 1.5 billion people living in resource-rich countries live in dehumanising poverty despite the abundance of natural wealth all around them.
Proposals being developed by the European Commission would force the extractive industries, particularly those involved in mining and oil, to publish details of payments to the governments of these countries. Oil, gas and mining exports from Africa are worth in the region of €300 billion a year, yet only a fraction of this money works its way through to the people.
Ireland has a proud reputation as being a champion of the poor. Our aid programme is internationally respected and donations from the Irish public feature at the top of per capita charitable donations lists.
Sadly, Ireland has indicated hesitation in supporting the European proposals, a move which directly contradicts our efforts to tackle global poverty. What a disservice Ireland would be doing if, as seems the case, we were to have our ears bent by big business and approve the watering-down of these proposals.
We urgently need clarification from Minister for Enterprise Richard Bruton about Ireland’s stance on this potentially historic EU Directive. Africa has waited long enough to benefit from its own natural resources. – Yours, etc,