Clare Short: a recognition of recent strides towards better disclosure.
Cameroon was designated as an ‘EITI Compliant’ country by the EITI Board at its meeting in Abidjan, Cote d’Ivoire today.
The Board congratulated the Government of Cameroon for its sustained commitment and leadership in the implementation of the EITI. The Board welcomed Cameroon’s effort to implement the new Standard with the publication in the 2011 Report of information on licensing, state ownership, production data transit fees and transfers to local government. The Board also congratulated Cameroon’s EITI Follow-up Committee, its Technical Secretariat and all stakeholders involved for their efforts and effective leadership in EITI implementation.
EITI Chair Clare Short said:
"I congratulate Cameroon on fulfilling all the transparency requirements of the EITI movement. I hope this will lead to a process of reform that brings real benefits to the people of Cameroon."
EITI compliance does not mean that the Compliant country's natural resources are managed in a fully transparent manner, but it does mean that the country has a basic and functioning process to ensure regular disclosure of natural resource revenues. Maintaining compliance will require that the country meets all requirements in the recently revised EITI Standard.
As an EITI Compliant country, Cameroon is required to:
- Produce EITI Reports annually in accordance with EITI requirements. To maintain Compliant status, the 2012 EITI Report will have to be published by 31 December 2014 in accordance with the EITI Standard.
- Be revalidated within 3 years, i.e. Validation will commence on 17 October 2016, or earlier upon request of the EITI Follow-up Committee. Validation has to be conducted in accordance with the EITI Standard.
- Publish an annual report on the previous year’s activities, detailing progress in implementing the EITI. The annual report for 2013 should be published by 1 July 2014.
- Publish an updated workplan aligned with requirement 1.4 of the EITI Standard by 31 December 2013.
Further, the EITI Standard specifies that:
- Stakeholders in the process may call for a new Validation at any time within that period if they think the process needs reviewing.
- Where valid concerns exist that a country has become EITI Compliant, but its implementation of the EITI has subsequently fallen below the standard required for Compliance, the Board reserves the right to require the country to undergo a new Validation or face delisting from the EITI.