3 Amendments of Pascal CANFIN related to 2011/0307(COD)
Amendment 9 #
Proposal for a directive
Recital 7 a (new)
Recital 7 a (new)
(7a) For issuers active in the extractive or logging of primary forest industries the report on payments to governments should include more detailed information provided the payments are material to the recipient government as defined in Chapter 9 of Directive 2011/.../EU of the European Parliament and of the Council. The reports should include types of payments comparable to those disclosed under the Extractive Industries Transparency Initiative (EITI) and provide civil society with information to hold governments of resource-rich countries to account for their receipts from the exploitation of natural resources. The initiative is also complementary to the EU FLEGT Action Plan (Forest Law Enforcement, Governance and Trade)1 and the Timber Regulation2 which require traders of timber products to exercise due diligence in order to prevent illegal wood from entering into the EU market. _______________ 1 http://eur- lex.europa.eu/LexUriServ/LexUriServ.do? uri=OJ:L:2005:347:0001:0006:EN:PDF 2 Regulation (EU) No 995/2010 of the European Parliament and of the Council of 20 October 2010. Companies that import wood products under EU voluntary agreements will be exempt from this requirement.
Amendment 13 #
Proposal for a directive
Recital 7
Recital 7
(7) In order to provide for enhanced transparency of payments made to governments, issuers whose securities are admitted to trading on a regulated market and which have activities in the extractive or logging of primary forest industries should disclose in a separate report on an annual basis payments made to governments in the countries in which they operate. The report should include types of payments comparable to those disclosed under the Extractive Industries Transparency Initiative (EITI) and provide civil society with information to hold governments of resource-rich countri and certain contextual information. The disclosure of these data aims at enabling inves to account for their receipts from the exploitation of natural resources. The initiative is also complementary to the EU FLEGT Action Plan (Forest Law Enforcement, Governance and Trade) and the Timber Regulation which require traders of timber products to exercise due diligence in order to prevent illegal wood from entering into the EU marketrs to make better-informed decisions, improving corporate governance and accountability and contributing to containing tax evasion. The detailed requirements are defined in Chapter 9 of Directive 2011/.../EU of the European Parliament and of the Council.
Amendment 36 #
Proposal for a directive
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Directive 2004/109/EC
Article 6
Article 6
Member States shall require issuers active in the extractive or logging of primary forest industries, as defined in […] to prepare, in accordance with Chapter 9 of Directive 2011/.../EU of the European Parliament and of the Council (*), a report on payments made to governments on an annual basis. The report shall be made public at the latest six months after the end of each financial year and shall remain publicly available for at least five years. Payments to governments shall be reported at consolidated level.