Since our previous post on the G8 and key anti-corruption issues, good news has come out of Northern Ireland.
On Tuesday, the G8 countries endorsed an action plan of core principles to prevent the misuse of anonymous corporations. Additionally, the United States and the United Kingdom have each published national action plans on the same issue (here and here).
In their communiqué, the G8 leaders have made a commitment to work towards common global reporting standards to make extractive industry payments more transparent. They have also agreed on an Open Data Charter to make budget data and other government information public in an easily accessible way.
While meaningful progress will only be achieved if these principles and commitments are implemented and enforced by individual countries, this sets a positive scene for G20 action on these issues in September.
Claudia J. Dumas is President and CEO of Transparency International | USA.
Shruti Shah, a contributing editor of the FCPA Blog, is Senior Policy Director, Law & Regulation of Transparency International | USA.