The EITI today launched the 2023 EITI Standard, the fourth edition of the global standard for transparency and good governance of the oil, gas and mining sector.
The amended EITI Standard includes several new and refined provisions that enable countries to respond to the most pressing challenges that concern natural resource governance. It strengthens EITI disclosures and governance requirements to improve understanding of the impact of the energy transition, address corruption risks, promote gender equity and strengthen revenue collection.
In her foreword to the EITI Standard, EITI Board Chair Rt. Hon Helen Clark affirms that it “helps increase the relevance of EITI implementation to countries, and advances open and accountable management of natural resource within a shared responsibility framework across all stakeholders.”
The EITI Standard was first introduced in 2013, and has been updated at regular intervals to respond to an evolving sector and stakeholder needs. Recent amendments were agreed by the multi-stakeholder EITI Board, which gathers representatives from implementing and supporting countries, industry and civil society.
The EITI Standard was formally adopted at the EITI Member’s Meeting ahead of the EITI Global Conference, which begins on 13 June. Diverse stakeholders from more than 60 countries will discuss good practices and strategies for implementing the new EITI Standard throughout the week.
Related content
Critical Foundations: Negotiating and Disclosing Transitional Minerals Contracts
