Table 3 Recommendations for improved regulation of extractive industries

• Adopt clear government policy/guideline/legal framework on preventing, detecting and managing conflict of interest

• Develop an international agreement to ensure that all taxes are paid in country of profit generation

• Cease inequitable taxpayer funded extractive industry subsidies

• Restrict government lobbying undermining the democratic process

• Halt the erosion of employment conditions through contracting

• Mandate greater environmental controls including reduction in greenhouse gas emissions

• Counterbalance fiduciary duty to shareholders with social obligations to local communities

• Prevent the use of voluntary codes to undermine or prevent enactment of legislation

• Develop an independent auditing process to ensure that TNCs comply with their stated commitments

• Endorse the proposed UN Binding Treaty on Business and Human Rights