Options for Operationalising Transparency in Commodity Trading Transactions

Foreword
Acknowledgments
Executive Summary
1 The development of a global standard on payment disclosure by buying companies
	EITI Reporting Guidelines for companies buying oil, gas and minerals from governments: A basis for a globally scalable standard?
	Precedents for requiring the disclosure of payments to governments: Exploration and production activities extractive sector
		Canada
		European Union: Accounting and Transparency Directives
		Norway
		Switzerland
		United States: Dodd-Frank Act
		Lessons learned from the disclosure of payments to governments from the upstream exploration and production sector
2 Adoption of regulations by home governments requiring payment disclosure by buying companies
3 Self-regulatory approaches: The role of free zones, commodity exchanges and industry associations
	Implementation challenges associated with self-regulatory approaches
	The role of industry associations in promoting compliance with international standards
	Commodities exchanges: A precedent for operationalising corporate disclosures of payments to governments for the purchase of publicly-owned commodities
4 Setting out expectations on payment disclosure by buying companies: Options for host governments and SOEs
	Adoption of disclosure policy by host governments and their SOEs
	Inclusion of disclosure obligations in commodity sales contracts
5 Making payment disclosure by buying companies work in practice
	Usability of the data generated from corporate payment disclosures
		Format of the disclosures
		Implementation guidelines to ensure consistent interpretation of disclosure requirements
		Constraints for host governments and SOEs
		Implications for buying companies
	Use of technology to facilitate disclosures
Notes
References
Annex A. OECD initiatives on corruption in commodity trading
	Thematic Dialogue on Commodity Trading Transparency
	Illicit Financial Flows in Oil and Gas Commodity Trading