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G20 reaffirms support for EITI

The G20 reaffirms its support for the EITI in the Saint Petersburg declaration.

Picture from the G20 Summit in Saint Petersburg, courtesy of www.g20.org.

In the final declaration from the G20 summit in Saint Petersburg, Russia, the Group of 20 leaders reaffirmed their support for the EITI.

The G20 leaders noted in their declaration that corruption is a severe impediment to sustainable economic growth and poverty reduction, and can threaten financial stability and the economy as a whole.

In the G20 final declaration, published 6 September 2013, the leaders state support for EITI as a means to battle corruption.

“We welcome initiatives aimed at increasing extractive transparency, including voluntary participation in the Extractives Industries Transparency Initiative (EITI) and take note of the progress. We ask the G20 Anti-Corruption Working Group to further follow this issue.”

This follows the G8’s strong support to the Extractive Industries Transparency Initiative (EITI), reiterated at the G8 Summit at Lough Erne in Northern Ireland on 17 June 2013.

Of the G20 countries, Indonesia is currently an EITI implementing country, while Australia is running an EITI pilot. In addition, France, Italy, UK and US have committed to implement the Standard, Germany has agreed to pilot and Mexico is currently considering implementation.

The G20 leaders' support of the EITI was first announced in the G20 Leader’s Statement from their meeting in Pittsburgh in 2009 and again in Cannes in 2011.

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