Implications of the Changed International Conditions for EITI
The EITI International Secretariat commissioned Professor Paul Collier to write a paper on the 'Implications of the Changed International Conditions for EITI'. In the paper, Professor Collier, draws links between three main shifts in international attitudes: awareness of climate change, awareness of growing energy scarcity, and the geo-political implications of the current financial crisis. He brings these into an integrated message on the management of oil depletion and suggests that the EITI is well placed to deliver this message.
The paper concludes that the present financial and commodity market volatility presents EITI with important opportunities: 'The financial crash has considerably increased public recognition of the importance of international cooperative regulation in asset markets... EITI can surely build on this shift in public perceptions by making the analogy'.