Posts Tagged ‘Directives’

Summary of the new EU Accounting and Transparency Directives

Posted by admin on April 29th, 2013

On 9 April 2013, the European Union Member States, Parliament and Commission agreed to adopt the Accounting and Transparency Directives. The Directives require oil, gas, mining and logging companies to annually disclose the payments they make to governments for access to natural resources, in all countries they operate in.

The EU Directives require companies to disclose all payments of €100,000 and above that arise from each individual resource project they operate, thereby providing a high level of disaggregation.

The Directives bring the EU in to line with the US Securities and Exchange Commission’s implementing rules for the US Dodd-Frank Act (Section 1504), which also require oil, gas and mining companies to disclose their payments to governments on a country-by-country and project-by-project basis.

Together, the U.S. and EU rules cover around 70% of the market capitalization of oil, gas and mining firms on the world’s most significant stock exchanges.

The EU Directives apply to:

  • All companies listed on EU-regulated stock markets that are active in the extractive industry or logging of primary forests.
  • Large, unlisted extractive and forestry companies registered in the EU.
  • EU-listed or large unlisted parent companies in any sector with subsidiaries active in the extractive or logging industries.

The types of payments to be disclosed are:

  • Taxes levied on the income, production or profits of companies.
  • Fees including licence fees, rental fees and entry fees.
  • Signature, discovery and production bonuses.
  • Payments for infrastructure improvements.

The Directives will go to plenary in the European Parliament for final approval, expected in June of this year.

The EU and U.S. rules are intended to help lift the ‘resource curse’ by providing citizens with information needed to track extractive industry revenues and ensure they are used to fund development. Investors worth over $ 1 trillion have expressed strong support for mandatory payment disclosure requirements, as greater transparency enhances their ability to assess risk in what are often high-risk operating environments.

For more information please contact Brendan O’Donnell, Oil Campaign Team Leader,   [email protected] / +44 7912 517 128

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Government announces action to improve implementation of the Habitats and Wild Birds Directives

Posted by admin on March 24th, 2012

A new cross-Government unit is to be set up to help developers deliver large infrastructure projects that promote sustainable development by supporting growth and protecting our most valued habitats and species, Environment Secretary Caroline Spelman announced today.

The new Major Infrastructure and Environment Unit is one of the key recommendations to emerge from a review into the way the Habitats and Wild Birds Directives are being applied in England.

There will also be new guidance published which will explain in much clearer terms what needs to be done to comply with the Directives. The new streamlined guidance will be easier for both developers and regulators to follow.

The Review focused on the processes within the Directives that most affect businesses. It made recommendations which will reduce the burden on business while maintaining, and where possible, enhancing the environmental benefits.

Commenting on the publication of the Review report, Environment Secretary Caroline Spelman said:

“I strongly support the aims of the Habitats and Wild Birds Directives, and I have said all along that I want them to continue to be effective in protecting important wildlife sites. Central to that is ensuring that we maintain their integrity, and the best way of doing that is to make it as simple as possible for people to comply with them. What the Review has shown us is that the Directives have been working well to provide the vital protection nature needs, but that there are cases where problems arise and delays occur, which is not good for business, the environment or local communities.

“That’s the sort of thing which can undermine the reputation of the Directives, which was why it was important to have the Review in the first place. The action we are taking will make it clearer for developers to understand how to comply with the Directive, and will ensure that our wildlife still receives the high level of protection it deserves. This in turn allows genuine green growth, boosting our economy whilst looking after the environment.”

The Review also sets out the actions that bodies such as Natural England, the Environment Agency and the Marine Management Organisation will take to continue to improve the service they offer to customers, including developers.

The Review, which was announced in the Autumn Statement by the Chancellor and led by Defra, has involved detailed work with stakeholders and other Government departments.

Notes:

The full report can be found at: http://www.defra.gov.uk/habitats-review/

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Defra Review of the Habitats and Birds Directives

Posted by admin on December 11th, 2011

The Department for the Environment, Food and Rural Affairs (DEFRA) has announced a review of the implementation of the EU Birds and Habitats Directives in the UK. Following the announcement of the review by the Chancellor in his Autumn Statement to the House of Commons, Defra have released details of the scope of the consultation, which will publish conclusions by the date of the 2012 budget, in March.

The purpose of the review is to assess: ‘the Habitats and Wild Bird Directives as currently implemented in England by the Habitats Regulations and Offshore Marine Conservation Regulations, focussing in particular on those obligations that affect the authorisation process for proposed development, with a view to reducing the burdens on businesses while maintaining the integrity of the purpose of the directives.’

The Habitats and Birds Directives are therefore presented as barriers to economic growth. Two of the areas of focus for the review include:
- Whether the approach taken by competent authorities is appropriate, particularly in relation to risk, or whether the requirements of the legislation are applied too or insufficiently rigorously; and whether competent authorities and statutory conservation advisers could explore more creative solutions; and
- Whether NE and JNCC’s approach to the provision of advice to competent authorities is appropriate, or takes an excessively or insufficiently precautionary approach.

The Government intends to examine other European Member States for examples of best practice in implementing the Directives and where the UK could learn from others’ experience in terms of applying the Directives whilst avoiding excessive burdens to business.

Wildlife and Countryside Link, of which the BES is a member, are in the process of establishing a taskforce to feed into the Review, with the aim of reporting by January 2012.

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Examination into how well the Habitats and Birds Directives are being implemented in England

Posted by admin on November 29th, 2011

Defra will conduct an in-depth analysis of how well the EU Habitats and Birds Directives are being applied in England, working with stakeholders and other Government departments. It was one of a number of measures unveiled in today’s Autumn Statement by the Chancellor.

Commenting after the Autumn Statement, Environment Secretary Caroline Spelman said:

“The Habitats and Birds Directives protect our rarest, most threatened habitats and species and ensure conservation interests are fully taken into account when development proposals are being considered. We strongly support the aims of these Directives. We want them to continue to be effective in protecting these very important wildlife sites and species. It’s important that we maintain the integrity of these Directives.The vast majority of development cases do successfully meet the Directives’ requirements but a small number raise particularly complex issues which give rise to unnecessary costs and delays. There’s also the possibility that the Directives are being used in ways for which they were not intended. These issues risk undermining the reputation of the Directives, and the valuable protection they provide. I don’t want to see that happen. That is why I am looking forward to seeing recommendations on dealing with any overly-bureaucratic or long, drawn out examples of implementation, without compromising the current levels of environmental protection.”

The analysis will focus on the obligations in the legislation which affect the authorisation process for proposed development, with a view to reducing the burdens on businesses while maintaining and where possible enhancing environmental benefits. It will also look at what is working well in terms of meeting the objectives of the legislation, and what scope there is to learn from good practice by all those involved and to share it more widely.  The review will report by March next year.  Defra will also:

•       establish a problem-solving unit to address blockages for developments where compliance with the directives is particularly complex or has large impacts;
•       make it easier for businesses to understand what they must do to comply with the directives by improving Natural England’s support and assistance offer to developers and consulting on updated guidance before the Budget; and
•       give industry representation on a group chaired by Ministers so it can raise concerns deriving from the Directives at the top of Government

Protected sites are Special Areas of Conservation (SACs) under the Habitats Directive and Special Protection Areas (SPAs) under the Birds Directive.  There are currently 251 SACs and 84 SPAs in England, covering about 6% of land and 24% of inshore waters

Notes:

1. The Terms of Reference for the Review can be found at www.defra.gov.uk/rural/protected/habitats-wildbirds-review/

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