The EITI is introducing a fresh approach to assessing countries’ progress in EITI implementation. Starting April 2021, countries will be evaluated according to a revised Validation model, where they will receive a score based on three components: “Transparency”, “Stakeholder engagement” and “Outcomes and impact”. The Validation process will also seek to capture the views of a wide range of stakeholders and will reward countries on the effectiveness and sustainability of EITI implementation.
Diana El Kaissy, Executive Director of the Lebanese Oil and Gas Initiative (LOGI) and a member of the EITI International Board and the Chair of its Outreach and Candidature Committee, explains the value of platforms such the EITI during the pandemic era.
COVID-19 has pushed governments, non-governmental agencies and companies to press the “adaptability button” and think outside the box. Surviving during the times of COVID-19 is a tricky act. Just as with the human body,
One way in which the EITI has impact is to create momentum for legislative and regulatory reform, underpinning a more systematic approach to transparency and good governance of the extractive sector. The New Year has brought with it three important and diverse examples of countries that have taken such steps.
Beneficial ownership transparency – knowing who ultimately controls and benefits from a company – is critical to fighting corruption and preventing illicit financial flows. EITI and Open Ownership have developed a new beneficial ownership declaration form to bring greater transparency to corporate ownership.
Thanks to a new tool, we now have oversight of the extractive data that is being disclosed systematically – and where.
When institutions and companies are open about what they do, it is easier for citizens to hold them accountable.
That is why a key feature of the EITI’s work in recent years has been to encourage governments and companies to “systematically disclose” information – in other words,
As 2021 dawns, it is clear that the COVID-19 crisis will continue to have a severe long-term impact. Even if the health pandemic is brought under control, oil and commodity price volatility will have enduring effects on revenues and economic activity in many EITI implementing countries. In view of these continued challenges faced by resource-rich countries in 2021 and beyond, the EITI’s strategic framework seeks to ensure that EITI implementation continues to be relevant, responsive and cost-effective.
COVID-19 and government economic recovery policies create business integrity risks for mining companies.
There are several key areas that companies and investors need to pay close attention to.
Business integrity, transparency and anti-corruption are integral parts of ESG performance and affect social licence to operate.
On International Anti-Corruption Day, the EITI, NRGI and TI Accountable Mining are partnering up to present new tools and guidance to combat extractive sector corruption.
The extractive sector is notoriously prone to corruption, accounting for one in five cases of transnational bribery according to the OECD. There have always been great expectations about the role of transparency in addressing corruption risks in the extractive industries. This is not surprising.
The East Africa Crude Oil Pipeline will be an important factor in making Uganda’s expected oil revenues a reality. As the pipeline continues to attract public interest, EITI reporting can shed light on the management and benefits of the project.
Oil pipelines are often the subject of debate, and recent headlines show this to be the case with the East Africa Crude Oil Pipeline (EACOP). Upon completion, the 1,443-km structure will be the longest heated oil pipeline in the world,