Nigeria’s national oil company, the Nigerian National Petroleum Corporation (NNPC), has become an EITI supporting company, joining a group of over 65 extractives companies, state-owned enterprises (SOEs), commodity traders, financial institutions and industry partners who commit to observing the EITI’s supporting company expectations
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The EITI Board has approved Uganda’s application to join the EITI, making it the EITI’s 54th member country and the 26th in Africa.
EITI Board Chair, Rt Hon. Helen Clark, welcomed Uganda to the EITI community: “EITI implementation can help lay the foundation for transparent and accountable management of the country’s natural resource wealth. We welcome Uganda as an implementing country and look forward to the EITI promoting inclusive public debate.”
In resource-rich developing countries, sharp decreases in extractives revenues are coinciding with intense and urgent healthcare spending priorities. Earlier this week an expert panel, moderated by EITI Chair Rt. Hon Helen Clark, discussed the implications of the Covid-19 pandemic, and how transparency can help countries navigate its challenges.
Recognising the profound challenges associated with the Covid-19 pandemic, the EITI Board has agreed measures to provide flexibility in EITI implementation and reporting. The flexible reporting requirements are outlined on the EITI’s new Covid-19 Resource Centre, which gathers information, related reports and webinars to support implementing countries responding to the triple crisis
The EITI today launched its flagship EITI Progress Report 2020 ahead of its first virtual Board meeting taking place on 16 and 17 of June. The report presents stories of transparency advances across the extractives sector value chain, from the disclosure of extractives agreements to the monitoring of revenue transfers to local communities.
In light of the escalating Covid-19 pandemic, I would like to express my support for all EITI implementing countries affected by the current circumstances on behalf of the EITI Board.
We recognise that countries around the world are facing a deeply challenging and unpredictable situation caused by the spread of the virus. At the same time,
Myanmar’s new beneficial ownership register lays the groundwork for combatting company anonymity by shedding light on the real owners of companies in the extractives sector.
Last month, the Government of Myanmar and Myanmar EITI co-launched a new beneficial ownership register, revealing more information about the owners of companies operating in the country’s extractive sector.
In light of the current COVID-19 outbreak, the EITI has taken the decision to hold its first fully virtual Board meeting.
The 47th meeting of the EITI Board was due to take place in Buenos Aires, Argentina, between 15 and 17 June. It will now be held virtually. Following consultations with the event hosts, the Government of Argentina, a decision was taken to postpone a physical meeting for the week of 12 October 2020, depending on the state of the pandemic.
The EITI has written to the U.S. Securities and Exchange Commission (SEC), to comment on its proposed rule implementing Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.The EITI’s comments focus on two aspects of the proposed rule: the importance of alignment with international transparency efforts, and the definition of project-level reporting.Mark Robinson, the EITI’s Executive Director,
The World Bank’s Extractives Global Programmatic Support (EGPS) Multi-Donor Trust Fund has been extended, with donors pledging approximately USD $40 million for continued support. A key funding mechanism for EITI implementation in developing countries, the programme is designed to improve the capacity of resource-rich developing countries to use their oil, gas and mineral resources in a transparent, sustainable and gender-inclusive manner.