Implementation of “free, prior and informed consent” policies vital tool to prevent conflict and costs to companies, reveals study published Thursday by Oxfam.

In the five years since the Dodd-Frank Act passed, oil produced in developing countries was worth an estimated $1.55 trillion for those governments. But because the landmark US transparency law remains delayed, any payments that flowed to governments took place with limited or no transparency.

The law provides a standard for the US to follow in finalizing its own rules requiring payment disclosure