Promoting transparency and accountability are important goals in themselves. But the current crisis has also shown how much government decision makers stand to benefit from open and inclusive governance.
The health and economic impacts of the Covid-19 crisis are unfolding day-by-day. It is having a dramatic effect on the economic contribution of the extractive sector, and creating wider social impacts that governments and companies cannot tackle on their own. At the international level,
As EITI implementing countries are faced with the extraordinary challenges of the Covid-19 pandemic and resulting economic downturns, the need for transparent governance is as relevant as ever. In times like these, open data in the extractive industries can serve as a bedrock for responsible and smart policy choices. In this blog, we explore the role that open data plays in informing important debates on extractives governance.
The EITI Standard is widely acknowledged as the benchmark for extractives transparency. Yet, countries seeking to use the EITI to manage natural resource wealth in a transparent and accountable way are facing challenges. Drawing on a survey of the impact of the Covid-19 pandemic on EITI implementation in 53 countries, we examine the threats to resource transparency from the pandemic and offer some ideas on what it will take to keep transparency on track.
OpenOwnership, the world’s leading experts on beneficial ownership transparency, and the Extractive Industries Transparency Initiative (EITI), the global standard for the good governance of oil, gas and mining, are teaming up to tackle corruption and open up ownership in the extractives sector.
It is no secret that anonymous companies make it harder to address money laundering and corruption.
This blog addresses a question that frequently comes up in debates about the EITI; how do we present data in a way that better informs debate and decision making? In the context of current events – a dramatic decline in oil prices and increasing economic uncertainty – we explore one way of quantifying resource dependency.
Data collected through EITI processes includes open data covering the economic contribution of the extractive sector.
Last month, the EITI Board 2019-2022 and stakeholders from more than 30 countries gathered for EITI Oslo Week to take stock and set the agenda for EITI implementation going forward. Below, we touch on some of the highlights, latest developments and outlook for the EITI.
The role of the EITI in addressing corruption
A discussion paper published last June probed the EITI’s role in addressing corruption, and identified some ways in which its role might be strengthened.
Johnny West is the founder and director of OpenOil, a leading provider of financial analysis and commercial advice on natural resource assets for public policy.
Think of financial modelling as an ultimate “what for” of EITI reporting. Why collect all this data around the oil and mining industries? And why put so much effort into building a consensus around publishing it? How can this data be used to stimulate informed debate and policy choices?
Companies operating in the oil, gas and mining sector spend between USD 745 billion and 1.3 trillion a year on the procurement of goods and services, according to estimates from the Natural Resource Governance Institute (NRGI). Goods and services range from catering and transportation to highly specialised inputs to exploration and production processes. Suppliers and service providers often make a significant economic contribution in terms of taxes, employment and building local capacity,
Who owns extractive companies? As of 1 January 2020, new EITI requirements for disclosing the owners of extractives companies will come into effect. In advance of this milestone, we take stock of progress made so far on beneficial ownership disclosure in EITI implementing countries.
Complex networks of corporate ownership are a significant feature of the modern business world. These ‘nested’ chains of corporation (think:
Much has happened in the year since I joined the EITI Secretariat as Executive Director. We have launched a revised EITI Standard, addressing new areas of transparency such as contracts, state-owned enterprises, commodity trading, gender and environment. We hosted a successful Global Conference and welcomed a new EITI Board and Chair, the Rt. Hon. Helen Clark, a widely respected global leader on sustainable development and international cooperation.
