A step change towards deeper disclosure

New Progress Report highlights advances in improving transparency of natural resources.


The International Secretariat launched the 2015 Progress Report today. The Progress Report is the EITI’s annual overview of the progress to improve transparency and governance of natural resources in the EITI countries around the world.

 

Read the EITI Progress Report 2015 

 

A step change towards wider and deeper disclosure

Over the past year we have seen a marked improvement towards wider and deeper disclosure in the countries that implement the global EITI transparency standard. The EITI Reports now provide readers with a more complete account of the extractive industries in a country. These have become instruments to identify how the country’s natural resources can be managed better.

  • For the first time, all reports disclose disaggregated revenue figures, broken down by the individual companies and revenue streams. Four countries provide data on a project by project basis.
  • Almost all countries now publish data about production and licensing.
  • Ten countries have started to disclose 'beneficial ownership' information, showing the real owners of the extractive companies operating in the country.
  • Nine countries now disclose data in an electronic format. This enables further scrutiny and use of the data.

48 countries now implementing the EITI Standard, of which 31 have become ‘compliant’

In 2014, the number of EITI countries markedly increased by four to 48. Colombia, Myanmar, Seychelles, and the United Kingdom were all accepted as EITI candidate countries.

Meeting the EITI transparency requirements has been challenging in many countries. Peer learning and regional training seminars have been important to meet these challenges. Over half of the EITI countries are now recognised as compliant with the EITI Requirements. In the past 12 months, six countries were designated as compliant: Chad, Democratic Republic of the Congo, Guinea, Indonesia, Sierra Leone and Trinidad and Tobago. These countries are now transitioning to the more demanding EITI Standard.

Read these and other stories of how EITI is leading to change in countries.

The full online report is available at http://progrep.eiti.org/. It replaces the paper publication that has been published earlier. It is available in English and French, and will be translated to Spanish and Russian shortly.