How to become an EITI Supporting company?
The benefits for companies range from improved stakeholder and community relations, to better risk management, lower capital costs, and improved company reputation and staff satisfaction. In addition, the EITI is supported by 80 institutional investors who collectively manage assets in excess of $14 trillion.
To become an EITI supporter, a company declares their support publicly and helps to promote the initiative internationally and in countries where they operate. Being a supporter of the EITI does not require any reporting or disclosure requirements in addition to those for all companies operating in the relevant sectors in countries implementing the EITI.
How oil, gas and mining companies can support the EITI is explained in this sheet »
Although the EITI process only requires extractive companies to disclose their payments, support for the initiative is not restricted to extractive companies. The EITI is noticing a growing interest also from other companies.
How non-extractive companies can support the EITI is explained in this sheet »
In short, a company supporting the EITI
- has made a statement where it endorses the EITI Principles and Criteria, and made the statement available on its website;
- contributes to implementation in EITI implementing countries;
- is asked to make an annual contribution to the international management of the EITI.
Extractive companies are also asked to fill in a international-level self-assessment form (available in English and French), within a year of becoming an EITI Supporting Company. The international Company Form should be completed by each company and this should be sent to the EITI Secretariat who will post it to this page on the EITI Website.
All companies in EITI implementing countries will be asked to fill in a country-level self-assessment form when the country is undergoing Validation. This form will be issued from the Validator, and must be filled in and returned.
The EITI Business Guide outlines how companies can support the implementation of the EITI. Paper copies of the EITI Business Guide can be obtained by contacting the Headquarters of EITI Supporting Companies or the International Secretariat. It can also be downloaded as a pdf.
For more information about company support of the EITI, contact Anders Kråkenes at the EITI Secretariat.
