Using the EITI to further strengthen government systems is key to impact.
Now that Mongolia has been found to achieve at least satisfactory progress on all EITI requirements the key question on stakeholders’ lips is “Where to go from here?”
The USD 9.3bn in mining, oil and gas revenues collected over 11 years (2006-2016) tells an interesting story.
Oslo, 18 April 2018 - Gunvor Group, one of the world’s leading commodity trading firms, today announced its support of the Extractive Industries Transparency Initiative (EITI), the global standard for governance of the natural resources.
The EITI welcomed Gunvor’s commitment and called on more commodity traders to join the work towards comprehensive and practical reporting guidelines that would bring more transparency and accountability to the sector.
Country uses the process to address key community concerns.
On Wednesday 21 March 2018, Pedro Pablo Kuczynski resigned the presidency of Peru over a vote-buying scandal. This was a culmination of corruption scandals and political instability in the country in recent years.
In this context, Peru’s implementation of the EITI is important. In 2017 and 2018, the EITI multi-stakeholder group, with support from government industry and civil society organisations,
Ecuador highlights desire for responsible mining
On 5 March Ecuador’s Mining Minister Rebeca Illescas committed to implement the EITI Standard. The commitment was made at “Ecuador Day” at the PDAC in Toronto on 5 March. Minister Illescas stressed that joining the EITI is “ very important for the government as an step to ensure mining is developed in the country following the best practices in the industry
Latest EITI Report gives clear status update on petroleum exploration in the island nation.
Fifteen years of oil exploration in São Tomé and Principe (STP) have so far resulted in more costs than income, according to the recently published 2015 STP-EITI Report. Recent activities in the Exclusive Economic Zone (EEZ) offer hope for a turn around,
The 39th Board meeting took place last week in the city that hosts the EITI International Secretariat.
EITI: A platform for progress
The 2018 Progress Report was launched on the eve of the Oslo Board meeting. This year’s edition highlights the impact the EITI has had across the 51 member countries. The report presents EITI policy on issues such as commodity trading, state-owned enterprises, beneficial ownership, environmental reporting and gender equality. Overall,
The TLEITI has increased understanding and engagement in the governance of the oil and gas sector
Oslo, 14 February - A year after being assessed to have achieved meaningful progress in implementing the EITI Standard, Timor-Leste has been received an overall assessment of satisfactory progress.
The decision came after the Board determined that Timor-Leste had sufficiently addressed the seven corrective actions imposed by the Board when it first Validated the country on 11 January 2017.
The Board welcomed the resilience of EITI implementation in a context of political change
13 February 2018 - The international EITI Board today recognised Burkina Faso’s efforts to improve natural resource governance through the EITI Standard. The Board concluded that the country had made meaningful progress in meeting the EITI requirements.
The Board congratulated Mongolia for its use of EITI to shine light on challenges in licensing and reporting of state-owned companies.
13 February 2018 – Mongolia was today assessed as meeting all the requirements of the EITI Standard. The decision was made by the EITI Board, who praised the swift efforts in addressing gaps in EITI implementation identified in its first Validation.
Board assesses the country as having achieved “meaningful progress”
13 February 2018 – The EITI Board today decided that Albania has made meaningful progress in implementing the EITI Standard. The Board congratulates the Government of Albania and Multi-Stakeholder Group (MSG) on the progress made 'in improving transparency and accountability in the extractive industries by using the process to address local concerns,