Furthering Transparency in Commodities Trading: Swiss and UK Approaches
Jeremy Weir, CEO, Trafigura
Jonas Moberg, Head of Secretariat, Extractive Industries Transparency Initiative (EITI)
Ambassador Stefan Flückiger, Swiss Federal Department of Foreign Affairs (FDFA)
Dominic Emery, Vice President, Long-Term Planning, BP
Alexandra Gillies, Director of Governance Programmes, Natural Resources Governance Institute (NRGI)
Moderator: Neil Hume, Commodities Editor, Financial Times
Transparency has long been considered a central tenet of ‘good governance’ of the extractive industries. Traditionally, the focus has been on transparency between extractive companies and the host governments they deal with, and the agreements and financial flows that pass between them. However, more recently, this focus has expanded to commodities trading, with reporting of the ‘first trade’ between national oil companies and traders, for example. At the same time, wider reforms addressing ‘real’ company ownership, international tax structures and price mechanisms are placing the entire extractives value chain under increasing scrutiny.
This high-level panel discussion will explore recent developments around transparency in extractives and commodities trading and assess their future direction. The speakers will reflect on the challenges and opportunities for major commodities trading hubs such as Switzerland and the UK.
The panel discussion and Q&A will be followed by a drinks reception.
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