Board paper 37-6-A
This paper contains a recommendation from the Implementation Committee to the EITI Board for clarifying the interpretation of requirement 2.5.c. According to Requirement 2.5.c, the requirement for disclosing beneficial ownership applies to “corporate entity(ies) that bid for, operate or invest in extractive assets”. Implementation support and capacity building activities in 2016 has raised some questions with regards to the scope of companies affected by the beneficial ownership requirements and how to interpret provision 2.5.c.
The EITI Board adopted a policy on “limited EITI engagement” is at its Board meeting in Manila in October 2017 (decision reference: 2017-48/BM-38
The policy set out in section 2 below has two parts. Section 2.1 sets out a mechanism for more strictly limiting EITI implementation to resource rich countries, and is intended for countries considering EITI implementation. Section 2.2 outlines a mechanism that the EITI could offer to existing implementing countries with limited extractive sectors, drawing on the tools available in the EITI Standard.
This discussion paper, authored by Alexandra Gillies, was commissioned to inform ongoing debate about the role that the EITI plays in addressing corruption.
Corruption remains a significant and harmful problem in the extractives sector. By raising the bar on transparency, the EITI has undoubtedly played a substantive role in addressing corruption, but the nature of this role has not always been well understood or articulated.
The Board found on 17 June 2019 that Mali had made overall meaningful progress in implementing the Standard, with considearble improvements across individual requirements. In this second Validation, the EITI International Secretariat assessed the progress made in addressing the ten corrective actions established by the EITI Board following the first Validation. See more under background below.
Timeline of Validation and related materials
28 February 2019: Second Validation commenced.
IC Paper 39-2-A, 27 March 2019
Submitted by: EITI International Secretariat on: 20 March 2019
The Secretariat recommends that the Implementation Committee recommends that the Board accepts the São Tomé and Príncipe (STP) EITI National Committee’s request for adapted implementation with respect to reconciliation of revenues and disclosure of contextual information related to the Nigeria- São Tomé and Príncipe Joint Development Zone (JDZ).