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.
The EITI has launched a consultation to seek views on the future of Validation. This is a key opportunity for stakeholders to influence how progress towards EITI implementation should be assessed. The consultation is open until Tuesday 14 January.
Think of a racing circuit: one goal, many different cars and drivers. Now imagine the circuit as the EITI Standard, where each car represents an EITI implementing country. The race steward performs the role of Validation,
On the eve of the 45th EITI Board meeting in Addis Ababa, the EITI International Secretariat and the Office of the Auditor General of Norway hosted a workshop on strengthening collaboration with Supreme Audit Institutions (SAIs). The workshop brought together EITI and SAI representatives from Ethiopia, Ghana, Malawi, Mozambique, South Africa, Sierra Leone, Tanzania, Uganda, Zambia and Zimbabwe.