When the EITI family met in Lima back in February this year it revised the EITI Standard. The 2016 EITI Standard made some significant improvements from the 2013 Standard which was hugely different from the previous EITI Rules. The 51 EITI implementing countries have over the years upped their commitments in quite an extraordinary way.
From simple figures to comprehensive information
On 16 February 2011, the EITI Board agreed a new edition of the EITI Rules. The EITI Rules brings together the all the requirements for implementing the EITI. The changes in the EITI Rules - 2011 edition are the results of an extensive consultation process, and based on detailed feedback received from many EITI stakeholders.
The EITI Board today announced that Timor Leste is EITI Compliant. Timor Leste has completed the validation process in April. The final validation report was approved by the Timor Leste EITI Working Group on 6 April 2010. The EITI Board reviewed the report and today made the following announcement:
The EITI Board designates Timor Leste as EITI compliant as of 1 July 2010. In accordance with the EITI Rules:
On 8 March the Chair of the EITI Board, Peter Eigen, issued the following statement:
“In recent months a tremendous amount of work has been done to improve transparency in the extractive sectors of many countries. Among the reasons for the increased activity has been EITI Candidate countries’ goal to be recognised as EITI Compliant under the Initiative's international rules and principles.
Equatorial Guinea, currently an EITI Candidate country, held the 7th meeting of the EITI National Commission, the EITI multi-stakeholder group in the country, on 30 January. The Commission, chaired by Finance Minister Melchor Esono Edje, took important decisions for the advancement of the implementation process in EG: Hart Nurse Limited was chosen to conduct the EITI Validation,
22 EITI Implementing Countries have a Validation deadline of 9 March 2010. Azerbaijan and Liberia have already completed Validation, but the others have just three more months. With this in mind, there has been a surge in Validation activity. Gabon, Kazakhstan, and Mongolia are currently conducting Validation studies. Ghana, Nigeria and Timor Leste have selected a Validator and are expected to begin to work shortly.
BAKU, 15 OCTOBER 2009 The Board of the EITI (Extractive Industries Transparency Initiative) held its 10th meeting in Baku, Azerbaijan on 14-15 October 2009. During the meeting the Board designated Liberia as EITI Compliant, stating: “The Board congratulates the Government of Liberia and all the other stakeholders on the impressive progress made implementing the EITI. “
On behalf of the Board of the Extractive Industries Transparency Initiative (EITI), the International EITI Secretariat seeks applications from suitably qualified service providers to be accredited to undertake EITI Validation. The EITI sets a global standard for transparency in the extractive industries. It supports improved governance in resource-rich countries through the verification and full publication of company payments and government revenues from oil, gas and mining.
EITI Board assesses the island nation as having achieved “meaningful progress” against the EITI Standard.
The EITI Board decided on 1 October that the Seychelles has made “meaningful progress” overall in implementing the EITI Standard, following the conclusion of the Validation process – the EITI’s quality assurance process.
The Board recognises the commitment by the Government of Seychelles and the Multi-Stakeholder Group (MSG) to good governance in its nascent oil sector and commends the
Today the international EITI Board agreed that the Republic of Congo has made meaningful progress in implementing the 2016 EITI Standard. The Board noted challenges related to space for civil society and encouraged all stakeholders to work together to improve and preserve the space dialogue and informed public debate.
With rising oil production, the Republic of Congo’s economy remains highly dependent on crude oil production, which accounted for 22% of GDP,