NEW YORK, 3 November 2011 -- Bill Gates today greatly advanced efforts to aid developing nations by urging the G20 to require greater transparency by oil, gas and mineral companies, the Revenue Watch Institute said. "I believe the G20 countries should endorse legally binding transparency requirements," Mr. Gates said in a formal report to the G20, which met in Cannes, France. "The United States recently passed such legislation, and the European Union is considering it, but all G20 countries should require the mining and oil companies listed on their stock exchanges to disclose payments to governments." "Mr. Gates is very wisely helping the G20 to think beyond traditional foreign aid and to consider how countries can finance their own development," said Karin Lissakers, director of Revenue Watch. "The greatest potential is in countries that are rich in natural resources.