Corporate Europe Observatory

Exposing the power of corporate lobbying in the EU

Hunger brokers

  • Dansk
  • Nederlands
  • English
  • Suomi
  • Français
  • Deutsch
  • Ελληνικά
  • Italiano
  • Bokmål
  • Polski
  • Portuguese
  • Română
  • Slovenščina
  • Español
  • Svenska

The Commission recently put forward a proposal to curb the lethal volatility in food prices by addressing speculation. But preparations of new legislation have been dominated by the financial lobby, and they've had an impact. Effective measures seem far away.

Before taking office in early 2010, the Single Market Commissioner Michel Barnier told a cross interrogation in the European Parliament that in order to stop the 'scandalous speculation in agricultural commodities, 'we as responsible politicians have to regulate derivatives very carefully. Despite this, when the Commission presented its proposal in October 2011 for a review of the “Markets in Financial-Instruments Directive” (MiFID) the level of ambition was significantly lower than US law, and will not, as it stands, do much to address the lethal volatility of agricultural commodity prices.

Why are ambitions so low? A look at the way the proposal was prepared provides some indications. It reveals a long standing problem at the Commission: that regulatory reform is mainly dealt with through interactions with the financial sector. A tradition that is always exploited effectively by the financial lobby that commands tremendous resources.

Attached files: 
 
The investment bank Goldman Sachs has revised its registration in the EU's lobby transparency register and has substantially increased its declared lobby spend from the 2013 figure of less than €50,000 to €700,000-€799,999 for 2014. This compounds Corporate Europe Observatory's view that Goldman Sachs' original registration was not a full reflection of its EU lobbying activity. Yet despite this under-reporting, for five months the register secretariat took little action and Goldman Sachs was able to secure at least four meetings with top Commission officials.
LobbyControl, CEO and Friends of the Earth Europe have made a formal complaint to the EU lobby register about the entry of Goldman Sachs which the NGOs consider signficantly under-reports its lobby spend.
Subject of the Luxleaks scandal, PricewaterhouseCoopers, is also advising the Commission on tackling tax dodging
As MEPs prepare to quiz Jonathan Hill again, the UK commissioner-designate allocated the portfolio of financial services, and Hill refuses to answer MEPs' question about his former financial lobby clients, Corporate Europe Observatory (CEO) exposes further information about Hill's career as a lobbyist.
While large energy companies are quick to spend heavily on lavish conferences, they are much less forthcoming when it comes to transparency of their lobby activities. This article looks at some of the most important energy companies lobbying the EU and tracks their disclosures in the EU’s voluntary lobby transparency register in 2013 and 2014.
An investigation led by research and campaign group Corporate Europe Observatory (CEO) and journalist Stéphane Horel exposes corporate lobby groups mobilising to stop the EU taking action on hormone (endocrine) disrupting chemicals (EDCs). The report sheds light on how corporations and their lobby groups have used numerous tactics from the corporate lobbying playbook: scaremongering, evidence-discrediting, and delaying tactics as well as the ongoing TTIP negotiations as a leverage.
Group aims to closely follow the developments on Better Regulation and the initiatives and actions from the Commission, Parliament and Member States in this area.
Corporate Europe Observatory and Friends of the Earth Europe have today written to the Secretary General of the European Commission, Catherine Day, to complain about the industry domination of the European Science and Technology Network on Unconventional Hydrocarbon Extraction.

Alternative Trade Mandate

Corporate Europe Forum