The Board reaffirmed that project-level reporting is required.
The Board reaffirmed that project level reporting is required. The national multi-stakeholder group should devise and apply a definition of the term project that is consistent with relevant national laws and systems as well as international norms.
The Board tasked the Implementation Committee with reviewing current project level reporting practices by implementing countries with a view to developing recommendations for revising requirement 4.7, reviewing considerations related to the payments to be covered by the requirement, and developing guidance on the implementation of the requirement and a transition schedule for Validation.
Project level reporting is required for all reports covering fiscal years ending on or after 31 December 2018. Given the EITI’s “two-year rule” (requirement 4.8), this would effectively require project level reporting by all countries by 31 December 2020 at the latest.
In the interim, the current language of requirement 4.7 remains: “The multi-stakeholder group is required to agree the level of disaggregation for the publication of data. It is required that EITI data is presented by individual company, government entity and revenue stream. Reporting at project level is required, provided that it is consistent with the United States Securities and Exchange Commission rules and the forthcoming European Union requirements”.
Where: Prediscussed at the 35th Board meeting in Astana, Kazahkstan. Decision taken at 36th Board meeting in Bogota, Colombia.
Based on: Article 12, Articles of Association
- Public: Minutes of the Bogota Board meeting
Keywords: Project-level reporting