Beneficial Ownership Transparency: Why it matters for extractive companies
This event engaged the extractive companies in a conversation about the importance of BOT to companies and other topics.
Date: Thursday, 24 February
Time: 8:00-9:30 CET/2:00-3:30 pm INO/3:00-4:30 MNL
We invite you to join a roundtable discussion on Beneficial Ownership Transparency on Thursday, 24 February. The aim is to engage the extractive companies in a conversation about the importance of BOT to companies, the challenges of disclosing beneficial ownership information and how these are being addressed at the global and country levels. This activity will provide a platform for companies in Indonesia and Philippines and those that operate in other EITI implementing countries to share examples of their initiatives that relate to beneficial ownership transparency and to exchange insights on advancing beneficial ownership transparency within their existing mechanisms.
On 7 September 2021, companies led by Anglo American, BHP, Glencore, Newmont, Repsol and Rio Tinto signed a statement agreeing to voluntary beneficial ownership disclosures in line with the expectations for EITI supporting companies and expressing support for countries’ BOT reforms in accord with the EITI Standard.
Through the Opening Extractives programme, EITI and Open Ownership are also collaborating to promote beneficial ownership transparency. The programme aims to make a dramatic and sustainable difference to the level of publicly available information on the individuals who own and control extractive companies.
Indonesia and Philippines offer interesting similarities in regulatory frameworks for disclosing beneficial ownership information and in the experience on attaining robust participation from the extractive companies. Both countries present the need for private sector leadership alongside government and civil society to support BOT reform.
If you are interested in participating please reach out to your country manager and/or Monica Osorio (mosorio@eiti.org).
