Disclosure for Impact

EITI Progress Report 2019

Revealing the real owners of extractive companies

countries have disclosed beneficial ownership information

and 11 countries have introduced reforms to strengthen ownership transparency. Progress has been made in developing systems to make beneficial ownership information publicly accessible.

All EITI countries

are required to publish beneficial ownership data from 1 January 2020.

 

Publishing contracts as a global norm

countries have published some contracts  

and 16 of them have published all or most of them.                                                                                                                                                                   

All EITI countries

are required to publish contracts signed or amended after 1 January 2021.

Momentum on project-level reporting

countries have fully or partially disclosed revenues at the project level

and some countries disclose production value and volume by mine of field.                                                                                                                     

All EITI countries

are required to report data at the project level, for all reports covering 2018 and beyond.

 

Greater clarity on state participation

of all declared revenues in EITI countries flow through
state-owned enterprises (SOEs)

with 40 EITI countries reporting revenues from SOEs of USD 615 billion.

Moving forward

the 2019 EITI Standard strengthens SOE engagement by demanding disclosure regarding state participation, transactions related to state owned enterprises and quasi-fiscal expenditures.

 

Shining a light on commodity trading

countries, companies make “in-kind” payments to governments

Governments receive oil and gas as payments, which is then sold on the global market.

Moving forward

the 2019 EITI Standard has refined requirements regarding the disclosure of “first trades”, the sale of the state’s share of production or other revenues collected in-kind.

 

Tackling social and environmental impact

countries have used the EITI to address environmental payments

as well as highlight environmental policies and impact management.                                                                                                                               

Moving forward

disclosure of payments related to the environment is required. Contextual information related to environmental monitoring is encouraged.

 

Counting on women, everyone’s business

Women are often most affected by extractive activities

and rely more on public services, such as education and health. Yet few hold decision-making power.

All EITI countries

must now consider gender balance in multi-stakeholder group representation and disclose economic data disaggregated by gender.

 

Making data more open, accessible and timely

Countries continue to shift the focus away from producing EITI Reports

and are developing new ways to publish data systematically through routine government and company systems.

Moving forward

the 2019 EITI Standard gives countries more flexibility in their disclosure practices, making it easier to meet requirements through online systems and resulting in more timely and accessible data.