The National, Monday June 24th, 2013
OIL Search Ltd (OSL) has been recognised as a “stand out company” among the top 200 companies listed on the Australian Stock Exchange (ASX) for the company’s work on the disclosure of payments that it has made.
This recognition followed a recent assessment of the level of transparency and disclosure of extractive companies in the ASX top 200, which were assessed as part of a report by the Corporate Analyses Enhanced Responsibility (CAER) and Publish What You Pay (PWYP).
OSL was recognised as a “standout company” for work on payment disclosure.
Rio Tinto was the other company and is considered the leader in this space.
The report recognised the recent publication of OSL’s 2012 Transparency and Sustainability Data book lauding the comprehensive coverage of payment data.
OSL was one of only two companies (18 were assessed) that proactively disclosed payment data in a publication separate to the sustainability and annual report.
Executive general manager for PNG and Sustainability Gerea Aopi said: “This is a significant result demonstrating our commitment to transparency and working against corruption.”