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Is Glencore opening up?

By Alasdair Roxburgh | 15 June 2011

Big Tax Return - Zambian minersMany of you who follow our work on tax will have noted Christian Aid’s recent comments in the press about serious allegations that commodities giant Glencore is not paying the tax that it should be in Zambia.

As in the UK, when companies don't pay the taxes they owe developing countries, poor people lose out on schools, hospitals and other essential services.

So we’re cautiously welcoming the news that Glencore plans to take steps towards greater openness about its finances.

But for this to be effective Glencore will need to include details of how its tax payments relate to its operations. Simply disclosing the total amount of tax it has paid tells us little and is likely to be nothing more than a PR exercise.

Christian Aid believes that greater financial transparency across all sectors, including the extractive sector, would make companies and governments more accountable and help to end tax dodging.

Here’s hoping Glencore is serious about greater transparency in its operations.

 

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 About the author

Alasdair Roxburgh

Alasdair Roxburgh is our churches campaigns manager


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