[img_assist|nid=457|title=|desc=|link=none|align=right|width=150|height=94]The Swedish Government announced today their support of the Extractive Industry Transparency Initiative (EITI). State Secretary Mr Gunnar Wieslander announced the Swedish support of the initiative at a meeting with Dr Peter Eigen, Chairman of the EITI, and Swedish companies that operate in the extractive sector.
The African Union Commission and the European Commission launched an Africa-EU Energy Partnership on 8 September. The Joint Statement on the Energy Partnership states that transparency is necessary to improve private investment in the energy sector. The EC and the AUC therefore calls for more countries to become members of the EITI, and to develop transparency guidelines for companies in the extractive sector.
West African EITI Implementing countries met together for the first EITI West Africa Conference 10-12 September in Abudja.
At the opening of the conference, Nigerian President Umaru Yar'Adua gave this message: "The Nigerian experience shows that there is a sense in which we can talk of blood oil.
The UN General Assembly has adopted a resolution on the subject of 'Strengthening Transparency in Industries'. The resolution gives strong backing to the EITI by noting EITI implementing countries' efforts to strengthen transparency.
[UPDATED with link to the resolution
The resolution, that was passed unanimously 11 September, emphasises that transparency and accountability should be embraced and promoted by all its member states.
Abuja, Nigeria, 12 September 2008 -- African civil society activists met the European Commissioner for Energy, Andris Piebalgs, and urged him to ensure that openness and accountability to Africa’s people are at the heart of Europe’s growing energy relationship with Africa.
[img_assist|nid=426|title=|desc=|link=none|align=right|width=150|height=69] According to this article in the Oil & Gas Journal, EITI is good for business, but needs to be implemented carefully to avoid pitfalls.
UPDATE: Legal Analyst Matthuew Genasci at the Revenue Watch Institute has written a response where he concludes: "Where a company makes no improper payments and accurately reports, disaggregated reporting offers the best protection from FCPA scrutiny"
Ghana has published its third EITI report presenting the aggregation and reconciliation of mining benefits paid by mining companies and received by the Government of Ghana in 2005. Earlier aggregated reports included those for January 2004-June 2004 and July 2004-December 2004. Ghana is hoping to complete validation in 2009.
Welcome to a new edition of the EITI Newsletter. The main story is the 4th EITI International Conference will be held in Doha 16-18 February 2009. In addition, it provides a briefing on EITI Validation, an article focusing on the question ”Does EITI Work?”, and updates from EITI implementing countries Azerbaijan and Equatorial Guinea.
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In their final statement from the G8 Summit in Hokkaido Toyako, G8 leaders reiterated their backing of the EITI, and encouraged emerging economies and their companies to support the initiative. In June, G8 Finance Ministers and G8 Energy Ministers expressed their backing of the initiative and called for broader implementation.
In the final statement the G8 leaders state that