EITI, beneficial ownership disclosure in Latin America

On 7 March 2017, the EITI organised the round table “EITI beneficial ownership disclosure in Latin America” with support of DFID (UK) and the German Cooperation GIZ. The objective of the meeting was to review advances and challenges of implementing the beneficial ownership (BO) disclosure in the Latin American extractive sector. Representatives from EITI countries: Colombia, Dominican Republic, Guatemala, Honduras, Mexico, Peru and Trinidad and Tobago shared an overview of their plans to disclose BO data from their countries’ mining and hydrocarbon companies. Representatives also highlighted the challenges ahead such as designing BO registries, passing laws enabling BO disclosure, building institutional capacities in relevant government bodies or development of BO data gathering methodologies.  Lina Velasquez, representing the Colombian Secretary of Transparency attached to the President’s Office, presented the proposed Colombia bill on BO national registry.

National coordinators from Latin American implementing countries, partners from the international community offered insights and examples on how other countries have been tacking some of the identified challenges. Michael Roesch, from the German Cooperation GIZ, introduced their methodological guidelines for designing a BO registry dedicated to the extractive industries [document attached below]. Erica Westenberg, from NRGI, commented on progress vis-á-vis the publications of road maps for BO disclosure in the region. Javier Aguilar, from the World Bank, shared views on the need for capacity building ahead of the data collection in order to harness the potential this information has for a country’s improved governance.