What can be learned from three years of Validation results – and how to interrogate the data
EITI Validation results are a rich source of information about the transparency of the extractive sector in EITI implementing countries. Over 80% of EITI countries have completed their first Validation since the process was introduced in 2016, producing a substantial dataset that covers 1,386 individual requirements of the EITI Standard. When compared and examined more closely,
The EITI and its stakeholders commit to intensify efforts towards gender equality and diversity in natural resource governance
While the benefits of extractive industry projects are primarily enjoyed by men, women and girls bear a disproportionate share of the negative social, economic and environmental impacts. That is why provisions to enhance women’s participation in decision-making around the management,
Over the last few years, there’s been significant progress towards making beneficial ownership transparency (BOT) a global norm, with 18 countries making beneficial ownership-related commitments in their Open Government Partnership (OGP) National Actions Plans. This growing momentum is encouraging given the potential for implementation efforts to achieve significant policy impact, and to contribute towards a global drive to abate corruption and increase trust between citizens,
With more than USD 2.5 trillion of revenues disclosed to date, the time is right for the EITI to reflect on its contributions and potential future role in the fight against corruption in the oil, gas and mining sector.
The question about what tangible impact transparency has on anti-corruption efforts has been debated over and over, with numerous studies pointing to different results. The issue is further compounded by the increasingly sophisticated forms of corruption that take place.
In this valedictory piece Eddie Rich highlights several challenges and opportunities for the EITI in the future. The content represents his personal views and should not be treated as the Secretariat’s policy. It focuses on the following themes:
Measuring EITI’s impactImproving EITI’s Standard and Validation processGetting the most from EITI’s constituencies EITI has a huge impact but needs to communicate this better
EITI at the country level: the case of Nigeria
EITI stakeholders and supporters met at the 2019 Global Conference to share best practice and early benefits in implementing one of the world’s first public beneficial ownership transparency requirement.
When doing business, interested parties want to know who they are dealing with. Historically, ownership of unlisted extractive companies has been opaque, leaving governments and companies at risk of entering into corrupt deals.
The EITI’s 8th Global Conference catalyses next steps in SOE transparency.
In many resource-rich countries, the state is directly involved in the extractive sector through its own state-owned enterprises (SOEs). The sale of a state’s natural resources is often a significant revenue stream for national budgets and development priorities. To date, 40 EITI countries have reported revenues from state-owned oil, gas and mining companies.
Jessica Uhl, Chief Financial Officer at Royal Dutch Shell, talks about the importance of tax transparency in the sidelines of the 2019 EITI Global Conference.
Video of Jessica Uhl Interview
Revenue transparency and support for EITI in particular is so important because of the role that oil and gas companies play in society and its important for society to understand the benefits that come from the industry by having transparency on all payments that are made to governments.
The EITI government network on contract transparency was launched at the EITI Global Conference in Paris.
Governments from Armenia, Cameroon, Chad, Democratic Republic of Congo, Ghana, Guinea, Indonesia, Malawi, Mexico, Mongolia, Mozambique, Nigeria, Philippines, Senegal, São Tomé and Príncipe and Zambia have joined the network. This coincided with the EITI Board’s ratification of the 2019 EITI Standard which now requires that contracts entered into or amended from 1 January 2021 sho
Natural resources are a key factor for growth and development for Latin America and the Caribbean (LAC). The value of fossil fuel reserves is equivalent to almost 4 times the GDP of the entire region and would be enough to pay its external debt almost ten-fold. And this is before factoring in the region’s reserves of metals and minerals.
