Thursday, July 15, 2010

Victory for World's Poor

Dear Jill,

Today, ONE members helped score a big, big victory for the world's poor. Hidden transactions between corrupt governments of developing countries and the multinational corporations that do business with them will now be brought into the light of day.
Because of your hard work, the Cardin-Lugar Transparency amendment to the financial regulation bill that passed today will now become law.
Here's what this new law will do: Now, when companies listed on the New York Stock Exchange pay governments to drill for oil and gas or mine gold and diamonds in their countries, they'll be required to report that. It's that simple.
The fact is, far too often developing countries see money from their natural resources end up in the pockets of corrupt government officials. But now, citizens will get to see exactly where this money is going—which means they can hold their governments accountable and make sure funds are spent on health care, clean water and the everyday necessities that everybody needs to lead healthy, productive lives. It boils down to this: When governments are transparent, people can hold their governments accountable. When people hold their governments accountable, real, positive change is possible.

But one of the coolest things about this news? You played a huge role in making this happen. A few months ago, ONE members called their senators—sometimes repeatedly—in support of the Cardin-Lugar amendment, because we knew it would make a world of difference for the world’s poorest people if Congress would just get the job done. So ONE members stood alongside our partners and key congressional champions, and together we came through in a big way.

Today our voices were heard and we won.
This is a major win for the people who will be directly and positively affected by this law, and for everyone who believes in transparency and justice. Thanks for all your hard work.

David Lane

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