WASHINGTON—Bishop
Oscar Cantú, Chairman of the U.S. Conference of Catholic Bishops’ Committee on
International Justice and Peace, today urged Congress to reject a Congressional
Review Act (CRA) (Senate: SJR 9; House: HJR 41) that would repeal rules designed
to institute greater transparency and accountability in the payments that oil
and mining companies make to foreign governments.

The
Securities and Exchange Commission established these rules to implement the
Cardin-Lugar Anti-Corruption Rule, also known as “Section 1504” or the “Publish
What You Pay” provision. The goal of the provision is to reduce corruption in
poor yet resource rich countries. Research shows that countries receiving 50%
or more of government revenue from oil or mineral companies tend to have higher
rates of corruption which undermine democratic institutions, good governance,
and fair elections while allowing repressive governments to remain in power. In
such cases, a country’s natural wealth can become more of a curse than a blessing.

Bishop Cantú
has issued the following statement in response to Senate Resolution SJR 9 and
House H.J. Resolution 41.

I renew our strong support for greater transparency and
comprehensive reporting in revenue payments.
As my predecessor as Chairman, Bishop Howard Hubbard wrote,
‘Transparency in extractive industry payments to governments is important to us
as leaders of the Catholic community of faith and institutions that are
investors and consumers. We believe these principles, policies, and rules can
help protect the lives, dignity and rights of some of the poorest and most
vulnerable people on earth. The rules have moral and human consequences as well
as economic and political impact.’
Therefore, I urge all members of Congress to reject the CRA (SJR 9; HJR
41) and instead protect the life and human dignity of all people from suffering
the “resource curse.”

—

Keywords:
Bishop Oscar Cantú, U.S. Conference of Catholic Bishops, USCCB, Committee of
International Justice and Peace, U.S. Congress, Congressional Review Act (CRA),
repeal, Securities and Exchange Commission, Cardin-Lugar anti-corruption rule,
extractive industries, corruption, common good, transparency.

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Source:: United States Conference of Catholic Bishops