The Transparency Matters seminar series was launched in February of 2020. It covers cross-cutting themes relevant to extractive industries stakeholders, EITI implementing countries and civil society organisations. Please check back regularly to stay up-to-date on upcoming seminars.
Transparency Matters seminars
Sustinable debt or pending threat? Why transparency matters for resource-backed loans - held online 3 September 2020
Why Transparency Matters for resource-rich countries caught in a triple crisis - held online 29 June 2020
Why Transparency Matters in the Energy Transition - held in Oslo, Norway 13 February 2020
Thursday, 3 September 14:00 - 15:00 CEST
For countries with limited access to credit and capital, resource-backed loans are a way of raising funding for infrastructure and development projects. This type of financing comes in the form of pre-payment deals, where governments or state-owned enterprises receive funds in exchange for future resource production.
These loans, however, also come with risks. Without transparency and public oversight, unfavourable terms and conditions can significantly affect a country's future public revenues and access to credit.
This webinar highlighted the role transparency can play in managing the risks and opportunties of resource-backed loans and featured the following representatives from government, commodity traders and civil society:
Zainab Ahmed, Minister of Finance, Budget and National Planning, Nigeria. She previously served as Executive Secretary and National Coordinator of the Nigeria Extractive Industries Transparency Initiative (NEITI).
Christophe Salmon, Group Chief Financial Officer, Trafigura Group Ltd. Christophe joined Trafigura in 2012 as Chief Financial Officer EMEA and became Chief Financial Officer for the company on the 1st October 2015. After an active national service with the French Navy, Christophe started his career with credit insurance group Euler Hermes in France. In 1995 he joined BNP Paribas in the internal audit department, moving to the energy and commodities finance division in 2001.
Anne Fishman, Policy Analyst, Commodities & Finance, Public Eye. She joined the Swiss-based NGO in 2019 and focusses her work on illicit financial practices. Previously, she worked in the banking sector as a compliance officer and as a consultant for PwC in Switzerland and in the UK, working on anti-money laundering and anti-corruption investigations.
The webinar was moderated by Neil Hume, Natural Resources Editor of the Financial Times.
For resource-rich developing countries, the Covid-19 pandemic has brought about a triple crisis: strained public health systems, a sharp decline in commodity prices and abrupt economic downturns. At this critical juncture, transparency and trust are critical in forging smart and responsive policies.
As the second event in the Transparency Matters seminar series, our webinar explored how transparency can help resource-rich countries navigate the challenges of Covid-19.
The webinar featured a diverse panel of experts and transparency champions, including:
Ms Helen Clark, former New Zealand Prime Minister and UNDP Administrator. Chair of the International Board of the EITI.
Dr David Nabarro, one of six Special Envoys of the Director General of the WHO tasked to respond to the 2019–20 coronavirus pandemic.
Mr Waziri Adio, appointed Executive Secretary of NEITI by President Muhammadu Buhari in February 2016. Prior to that he worked as a Special Adviser to a former Senate President, as a Communications Specialist with UNDP, as a reporter, editor, columnist and publisher in various media organisations, and as a public policy consultant.
Mr Roberto de Michele, Principal Specialist at the Inter-American Development Bank focusing on Modernization of the State. De Michele has been a consultant with the United Nations, the World Bank, the Inter-American Development Bank, the United States Agency for International Development (USAID), the Open Society Institute, Transparency International, the Ethics Resource Center, the Chr. Michelsen Institute of Bergen, and the Utstein Anti-Corruption Resource Centre.
Speakers for this in-person event included Helen Clark and Lord Turner.
Helen Clark is the EITI Board Chair. She served as Prime Minister of New Zealand from 1999-2008, and as a Member of the New Zealand Parliament from 1981-2009. Prior to that she taught in the Political Studies Department of Auckland University, New Zealand. From April 2009 until April 2017, Ms. Clark was Administrator of the United Nations Development Programme and Chair of the UN Development Group.
Lord Turner is the chair of the Energy Transitions Commission. He is also the Chairman of Chubb Europe, and advises the board of the Shanghai-based company, Envision Energy. He was appointed the first Chairman of the Climate Change Committee (2008-2012) whose recommendations were adopted by the UK government in 2009. He is also Chairman of insurance group Chubb Europe and serves as a Trustee of the British Museum.