Non-extractive companies can support the EITI at the international level. Find out more in factsheet for non-extractive companies
Company support of the EITI
Extractive companies operating in countries implementing the EITI benefit from enhanced relations with stakeholders and local communities, better risk management, improved company reputation and the opportunity to demonstrate industry leadership. Many of the world’s largest oil, gas and mining companies have therefore become EITI Supporting Companies.
A Supporting Company publicly supports the EITI and helps to promote the Standard internationally and in countries where it operates. No additional reporting or disclosure of payments is required for becoming an EITI Supporting Company.
Although EITI implementation requires only extractive companies to disclose their payments, interest from non-extractive companies to support the EITI is growing. In addition, over 80 institutional investors, who collectively manage assets in excess of US$19 trillion, have declared their support.
Steps to becoming a Supporting Company:
- Publicly declare support for the EITI Principles.
- Complete and submit the EITI Supporting Company Form.
- Companies are encouraged to make financial contributions to the International Management of the EITI.
- For oil and gas companies a minimum contribution of USD 20,000 , USD 40,000 and USD 60,000 depending on market capitalisation is required.
- For mining companies, the recommended amount is the same as well depending on market capitalisation, and a minimum contribution of USD 15,000 is required.
The EITI Supporting Company factsheets provides more details for extractive and non-extractive companies considering becoming EITI supporters (see below).
The EITI Business Guide outlines how companies can support EITI implementation. Hard copies of the Business Guide can be obtained by contacting the International Secretariat. An electronic version is available below.