What is the EITI?
The Extractive Industries Transparency Initiative (EITI) is a global coalition of governments, companies and civil society working together to improve openness and accountable management of revenues from natural resources.
To increase a transparency and accountability in extractive industry, the former UK Prime Minister Tony Blair announced the EITI at the World Summit on Sustainable Development in Johannesburg, RSA in 2002.
There are 48 resource-rich countries have committed to implement EITI. For more information, please click here to visit EITI.org.
What we do?
Companies publish what they pay and governments publish what they receive in an EITI Report where the tax and royalty payments are independently verified and reconciled.
The Soul of the EITI is This process is overseen by a multi-stakeholder group of governments, companies and civil society.
How EITI works?
The EITI has a robust yet flexible methodology that ensures a global standard is maintained throughout the different implementing countries. The highest governing body is the EITI Global Conference, the EITI Board and the International Secretariat that ensures EITI implementation process. The EITI holds a Global Conference once every two years, bringing together all stakeholders of the EITI. During these conferences, a smaller Members' Meeting with the three constituency groups - countries (implementing and supporting), companies (including institutional investors) and civil society organizations - takes place. The main task of the Members' Meeting is to appoint an EITI Board for the next two years.
During the EITI Global Conference in Paris March 2011, the current EITI Board was formed consisting of 20 members representing implementing countries, supporting countries, civil society organizations, industry and investment companies.
The EITI International Secretariat is based in Oslo, Norway. The Secretariat is responsible for turning policy decisions of the EITI Board into action, and for coordinating worldwide efforts in implementing the EITI. Its role specifically includes: outreach and advocacy, communicating and sharing lessons learned with stakeholders, managing a resource centre on revenue management and transparency, and oversight of the Validation process. It organizes, jointly with supporting and implementing countries, the biennial EITI Conference.
EITI key documents
| Name | Issued date | Description |
|
The EITI Principles |
June 2003 | EITI Principles agreed at the Lancaster House Conference in June 2003. Today, the EITI Standard contain these and all the requirements for implementing the EITI.These beliefs and aims are endorsed by all EITI stakeholders. |
| The EITI Standard | February 2016 |
In February 2016 the EITI Board agreed the revised EITI Standard. It is the global transparency standard for improving governance of natural resources. The EITI Standard provides the requirements and guidance on how to report activity in the oil, gas and mining sectors and ensures that this information is available to the public. The Standard also covers areas such as license transparency, transit and state oil sales. You can download EITI Standard from here. |
| The EITI Validation criteria |
Validation is EITI's quality assurance mechanism and an essential feature of the EITI process. It serves to assess performance and promotes dialogue and learning at the country level. It also safeguards the integrity of the EITI by holding all EITI implementing countries to the same global standard. Validation is an external, independent evaluation mechanism, undertaken by a Validator procured by the International Secretariat. It is intended to provide all stakeholders with an impartial assessment of whether EITI implementation in a country is consistent with the EITI Standard. The Validation reportwill also address the impact of the EITI, lessons learned in EITI implementation, as well as any concerns stakeholders have expressed, and recommendations for future implementation of the EITI. You can get more information from here and download EITI Validation report of Mongolia. |
