The EITI will support implementing countries and multi-stakeholder groups in building awareness of the transition to come, making use of data that is available, and working with supporting countries and partners to achieve sustainable outcomes.
In October 2020, the EITI Board agreed on four ways to work with implementing countries, supporting companies, civil society organisations, financial institutions and others to build awareness on how EITI data can support debate, namely:
Collaborating with a group of countries to analyse how disclosures can inform debates on the energy transition and pilot new disclosures.
Supporting multi-stakeholder groups in engaging on issues related to the energy transition as part of the EITI’s broader capacity building activities.
Considering how to integrate transparency on energy transition into the EITI Standard and guidance. The 2019 EITI Standard currently requires implementing countries to undertake environmental reporting. Considerations relating to the energy transition have also been integrated in guidance on various aspects of the EITI Standard, including state participation, off-budget expenditures by state-owned enterprises, contract transparency and subnational revenues.
Continuing to engage industry and institutional investors in inclusive discussions on industry trends. This will improve the EITI’s understanding of how the energy transition may affect extractive sector transparency and how the EITI can contribute.
In addition, the EITI will seek to build on and complement the substantial work being undertaken by expert and partner organisations in this area.