Note: due to Ukraine / Russia crisis the members of the G8 summoned in Brussels without Russia in June 2014. The forum is now called G7 (this webpage renamed).
In the G7 declaration, published 5 June 2014, the leaders state:
We remain committed to work towards common global standards that raise extractives transparency, which ensure disclosure of companies’ payments to all governments. We welcome the progress made among G7 members to implement quickly such standards. These global standards should continue to move towards project-level reporting. Those governments that are signing up to the Extractive Industries Transparency Initiative standard will voluntarily report their revenues. We confirm our commitment to implement fully the extractive partnerships launched in 2013.
In the G8 declaration, published 27 May 2011, the leaders state:
We will continue to support transparency in other areas including through the full implementation of the Extractive Industry Transparency Initiative (EITI), which we all support, We call on all countries, notably resource-rich countries, and extractive companies to join or support this initiative. We also welcome the complementary efforts to increase revenue transparency, and commit to setting in place transparency laws and regulations or to promoting voluntary standards that require or encourage oil, gas, and mining companies to disclose the payments they make to governments.
Also on 27 May, the leaders of G8 and Algeria, Egypt, Ethiopia, Nigeria, Senegal, and South Africa, and the African Union Commission, published the G8/Africa Joint Declaration where they state:
We will all continue to support transparency in other areas including through the full implementation of the Extractive Industry Transparency Initiative (EITI). We call on all countries, notably resource-rich countries, and extractive companies to join or support this initiative. We also welcome the complementary efforts to increase revenue transparency, and commit to setting in place transparency laws and regulations or to promoting voluntary standards that require or encourage oil, gas, and mining companies to disclose the payments they make to governments.
In the final declaration titled "G8 Muskoka Declaration Recovery and New Beginnings" the G-8 leaders state:
"We also urge candidate countries to the Extractive Industries Transparency Initiative (EITI), including the DRC, to complete the EITI implementation process as a mechanism to enhance governance and accountability in the extractive sector. The recent inclusion of coltan and cassiterite in the DRC’s EITI reporting is a step in the right direction."
This year the G-8 also published the Muskoka Accountability Report that takes stock of recent G-8 commitments related to development, including its support of EITI. The report notes that
"Since the 2003 Evian Summit, the G8 has been working to promote the Extractive Industries Transparency Initiative (EITI) to increase transparency of payments and revenues in the extractive sector".
The G8 backing of the EITI is affirmed in the G8 Leaders Declaration, which this year is titled “Responsible Leadership for a Sustainable Future” [G8 2009 website]:
35. We continue to support the Extractive Industries Transparency Initiative (EITI) to improve governance and reduce corruption in the extractive sector. We will intensify efforts to promote validation by all implementing countries and all companies operating in those countries. We also strongly encourage EITI candidate countries to complete implementation within their agreed timeframe and call on other developing and emerging countries and their companies to adhere to the initiative.
The G8 also launched a G8 Expert Group Report that reviewed the implementation of anti-corruption commitments [G8 2009 website]. In this first accountability report, the G8 countries account for what they have done to meet their prior commitments to the EITI and other efforts.
Hokkaido Toyako 2008
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
To promote improved transparency, accountability, good governance and sustainable economic growth in the extractive sector, and to address the natural resource dimensions of armed conflict and post-conflict situations, we:
1. continue to support initiatives such as the Extractive Industries Transparency Initiative (EITI) and call for its full implementation and for candidate countries to complete the validation process in a timely manner. We encourage emerging economies and their companies to support the initiative;
2. promote improved resource management including fiscal transparency and legislative oversight by resource-rich countries through supporting international financial institutions’ efforts to develop international standards and codes to be voluntarily adopted by those countries, and technical assistance, as appropriate; and
3. support international efforts to respond more effectively to the natural resource dimensions of conflict and post-conflict situations, and would welcome additional analysis on the issue by the OECD Development Assistance Committee (DAC), the United Nations Secretary General, and the World Bank.
Excerpts from the G8 Summit Declarations
“We emphasize our determination to fight corruption and mismanagement of public resources in both revenue raising and expenditures. As part of our ongoing efforts to foster transparency with regard to resource-induced payment flows, we will continue to support good governance and anti-corruption initiatives, such as the Extractive Industry Transparency Initiative (EITI), and we
• commit to provide continuous assistance to strengthen EITI, as appropriate through financial, technical and political means. Equally, we invite all stakeholders to provide support for the implementation of the EITI,
• call on implementing countries and companies participating in EITI to implement the initiative and comply with their disclosure commitments. Equally, we encourage further countries to participate in EITI as appropriate.
St. Petersburg 2006
Today, we advance our commitment against high level large-scale public corruption. We commit to:
… promote governance and greater fiscal transparency, notably through the Sea Island Compacts and by supporting the implementation of EITI;
(d) As part of our work to combat corruption and promote transparency, increase support to the Extractive Industries Transparency Initiative and countries implementing EITI, including through financial and technical measures. We call on African resource-rich countries to implement EITI or similar principles of transparency and on the World Bank, IMF and regional development banks to support them. We support the development of appropriate criteria for validating EITI implementation. Transparency should be extended to other sectors, as the G8 is doing in pilot projects…
Sea Island 2004
For partner countries rich in oil, natural gas, and mineral resources, the compacts will pay particular attention to the transparency of revenue flows and payments in these sectors, while protecting the necessary confidentiality of business operations. Our shared goal is to help combat the harmful effects on development when national resources and revenues are misused. Complementary efforts to promote transparency are also taken forward by countries participating in the Extractives Industry Transparency Initiative.
6. Consistent with these principles and recognizing the importance of revenues from the extractive industries (oil, gas and mining), we have agreed to pilot on a voluntary basis an intensified approach to transparency. To this end, we will:
6.1. encourage governments and companies, both private and state−owned, to disclose to the IMF or another agreed independent third party such as the World Bank or Multilateral Development Banks, in a consistent fashion and common format, revenue flows and payments from the extractive sectors. This information should be published at an aggregated level, in accessible and understandable ways, while protecting proprietary information and maintaining contract sanctity.
6.2. work with participating governments to develop and implement agreed action plans for establishing high standards of transparency with respect to all budget flows (revenues and expenditures) and with respect to the awarding of government contracts and concessions
6.3. assist those governments that wish to implement this initiative with capacity building assistance;
6.4. encourage the IMF and the World Bank to give technical support to governments participating in the initiative and to develop linkages with other elements of this Action Plan.