Issue Brief: Disclosing beneficial ownership information in the natural resource sector

With 51 countries developing new national action plans (NAP) by June 2016, there is a unique opportunity to commit to good governance of the oil, gas and mining sectors, which are at a particularly high risk of corruption in resource-rich countries. This briefing aims to encourage and orient Open Government PartnershipThe Open Government Partnership (OGP) is a multi-stakeholder initiative focused on improving government transparency, ensuring opportunities for citizen participation in public matters, and strengthen... More (OGP) countries to commit to beneficial ownershipDisclosing beneficial owners — those who ultimately control or profit from a business — is essential for combating corruption, stemming illicit financial flows, and fighting tax evasion. Technical... disclosure, which impact the natural resource sector. It explores the rationale behind this commitmentOGP commitments are promises for reform co-created by governments and civil society and submitted as part of an action plan. Commitments typically include a description of the problem, concrete action..., provides country examples, and offers ideas around good practice. It draws heavily from the Natural Resource Governance Institute’s (NRGI) briefing “Owning Up: Options for Disclosing the Identities of Beneficial Owners of Extractive Companies”.

Available in English, French, and Spanish.