Driving Up Global Ambition on Beneficial Ownership Transparency at the Summit for Democracy & Beyond
Hosted by: OGP and the Government of the United Kingdom, in collaboration with Open Ownership, Transparency International, the B Team and other partners The recent revelations of the Pandora Papers have once again shown the role played by secrecy in the global financial system.
The use of shell companies and other legal vehicles to hide money and evade taxes undermines our democratic institutions and reduces resources for public services, like health and education.
There has been global progress on reforms to increase corporate transparency in recent years, including many countries who have established – or are establishing – a central register of company ownership. Several of these countries have also founded the Beneficial Ownership Leadership Group to share best practice, inspire ambition and to support each other on implementation. This event will draw on the experience of the Leadership Group, and will explore further ideas for cross-country action and collaboration.
Anti-corruption, including beneficial ownership transparency, is a priority of the upcoming Summit for Democracy and OGP Global Summit as a means to strengthen democracy. This public event is timed to be part of the build up to both Summits, and will bring together high-level government representatives, civil society organizations, representatives from the private sector, and international partner organizations.