Publisher: 
EITI
Publication Type: 
Fact sheets
Published Date: 
June, 2018

Expectations for EITI supporting companies

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All EITI supporting companies are expected to:

  • Publicly declare support for the EITI Principles and, by promoting transparency throughout the extractive industries, help public debate and provide opportunities for sustainable development.
  • As a guiding principle, supporting companies are expected to publicly disclose taxes and payments. Where companies choose not to, they should state why.
  • Ensure comprehensive disclosure of taxes and payments made to all EITI implementing countries.
  • In accordance with EITI beneficial ownership requirements, publicly disclose beneficial owners and take steps to identify the beneficial owners of direct business partners, including Joint Ventures and contractors. Listed companies will do what is required by applicable regulations and listing requirements.
  • Engage in rigorous procurement processes, including due diligence in respect to partners and vendors.
  • Support the operationalisation of countries’ decisions to disclose future licenses and contracts entered into that govern the exploration and exploitation of oil, gas and minerals in accordance with the recommendations in the EITI Standard. Companies recognise that achievement of greater transparency must be set in the context of respect for contracts and laws in accordance with the EITI Principles.
  • Companies, working together with governments, to deliver natural resources in a manner that benefits societies and communities.
  • Ensure that company processes are appropriate to deliver the data required for high standards of accountability.

The expectations for companies supporting the EITI were agreed by the EITI Board in June 2018, see decision 2018-40/BM-40/BP-40-7-A