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Coalition of US investors for more transparency in Canadian Mining Industry

Corruption is a serious problem in the mining sector. Annually, millions of dollars are payed in bribes to government of countries whose resources the companies extract. Because this money is often the main source of wealth of corrupt leaders, it also helps them to expand their political power and oppressive regimes. In situations like this, corporations contribute to the fact that the population does not profit from or is harmed by opening their economy.
Therefore, the European Union and the United States introduced legislation for more transparency: Companies are forced to reveal how much money they gave to which state, whenever a threshold of $100,000 is exceeded. A coalition of US investors, representing $5,7 trillion in assets, now lobby the Canadian government to introduce similar transparency legislation. Among others, the investor coalition consists of SNS Asset Management, Aviva Investors and F&C Management.
A success of the investor coalition would show how responsible investors can use their asset power to positively influence the activities of corporations.
Read more here.