It seeks to address the key governance issues in the extractive sectors. To be eiticompliant, participating countries must meet a minimum set of standards that deal with the quality of reporting and the multistakeholder process used to. Cop 29 extractive industries transparency initiative the comment period against any a. Extractive industries transparency initiative source book. However, poor governance natural resource has often led to corruption and. It has a robust yet flexible methodology for disclosing and reconciling company payments and government revenues in implementing countries. Us and uk joining the eiti as implementing countries. Yet even in more favorable settings, eitis premise that transparency. Assessing the effectiveness and impact of the extractive. Mar 31, 2017 uk extractive industries transparency initiative uk eiti report 2015 pdf, 3. The progress report is the eitis annual overview of the progress to improve transparency and governance of natural resources in the eiti countries.
Maximising influence in the extractive industries transparency. Emerging lessons and results from eiti implementation in the gac context april 22, 2008 anwar ravat, program manager, eiti. United states implementation of the extractive industries. A countrys motive for joining the eiti may be to secure investment in its extractive sector. In both cases, it is important that more western industrialized countries will be joining the eiti.
The eiti is the global standard for the good governance of oil, gas and mineral resources. The extractive industries transparency initiative eiti was first launched in september 2002 by the then uk prime minister, tony blair during the world summit on sustainable development in johannesburg, following years of academic debate, as well as lobbying by civil societies and companies, on the management of government revenues from the extractive industries. Revenue watch institute guide to the eiti standard natural. Background eiti is a global initiative that aims to promote revenue transparency and accountability for natural resource extraction e. Natural resources, the extractive industries transparency initiative. April 16 marked a decisive day for the extractive industries transparency initiative eiti, a sister organisation to transparency international set up to stop corruption in the energy sector and the extractive industries. The eiti standard requires information along the extractive industry value chain from the point of extraction, to how the revenue makes its way through the government. The msg is a tripartite body made up of government, industry and civil society that has the responsibility of. At the same time, many good practice options are emerging as models for improving transparency in regulatory governance of these sectors. There is a global consensus that in many countries, extractives sector corruption can deprive the population of resources needed to reduce poverty. However, an estimated 680 million people in resourcerich countries still live on less than 2 usd per day.
The extractive industries transparency initiative eiti aims to. Extractive industries transparency alliance, lusaka, zambia. Transparency international eu the global coalition against. The board of eiti, which is made up of people from industry, government and civil society, took the delicate decision to eject two countries for failing to. Information and transparency in extractive industries. Trinidad and tobago extractive industries transparency. This is a relatively recent development and the extractive industries transparency initiative eiti1 has played a leading role in assisting governments, industry and civil society in making this happen. Oct 26, 2017 the international board of the extractive industries transparency initiative eiti yesterday approved guyanas application to become a member of the prestigious anticorruption body which demands good governance in oil, gas and other mineral resources. An analysis of the extractive industry transparency. Since its launch in 2002 the eiti has become an established standard supported by a number of countries, major mining companies, civil society organizations.
Oig inspected progress being made in the united states to meet the requirements of the extractive industries transparency initiative eiti, which currently has 56 participating nations concerned about worldwide corruption and mismanagement of extractive resources such as oil, natural gas, coal, gold, and renewable energy. The 38th meeting of the eiti which is being hosted in manila, philippines concludes today. Welcome to the ghana extractive industry transparency initiative. Pdf this chapter critically examines the challenges involved in implementing the extractive industries transparency initiative eiti in. A is a platform for collective action committed to promoting transparency, accountability and good governance in. The extractive industries ei sector occupies an outsize space in the economies of many developing countries. The extractive industries transparency initiative eiti is a global organisation established in 2002 with a goal of increasing industry transparency and accountability.
The extractive industries transparency initiative eiti has been one attempt among many others1 to enhance transparency and accountability in the governance of natural resources oil, gas and mining in developing countries and thus to mitigate the adverse effects of what is commonly referred to as the resource curse. United states extractive industries transparency initiative. Economists, public finance professionals, and policy makers working in such countries are frequently confronted with issues that. The international board of the extractive industries transparency initiative eiti yesterday approved guyanas application to become a member of the prestigious anticorruption body which demands good governance in oil, gas and other mineral resources. The eiti standard requires information along the extractive industry value chain from the point of extraction, to how the revenue makes its way through the government and its.
The extractive industries transparency initiative eiti is an international standard for openness around the management of revenues from natural resources. Civil society can be involved by joining a country multistakeholder group mandated to oversee eiti implementation. Standard guidance cop 29 extractive industries transparency initiative the comment period against any a. The extractive industries transparency initiative eiti is an international, multistakeholder initiative that promotes transparency and accountability in the oil, gas and mining sectors through the disclosure of government and company data in resourcerich countries. Extractive industries transparency initiative eiti is a world standard which promotes the open and accountable management of natural resources.
Nov 10, 2017 the extractive industries transparency initiative has little impact on the u. Has the extractive industries transparency initiative been a. May 21, 20 the extractive industries transparency initiative eiti was founded in 2003 with the goal of strengthening governance by increasing transparency over revenues from the oil, gas, and mining sectors. Liberia extractive industries transparency initiative. In many countries, natural resource extraction is controlled by the wealthy, politicallyconnected elite, leading to a form of resource curse in which the majority of the population does not benefit from natural resource wealth and economic development outside the. The eiti seeks to strengthen government and company systems, inform public debate, and enhance trust among stakeholders in extracting countries. Legal fiscal systems, revenue management and good governance improving ei. Bringing transparency and accountability to natural. In each of the 52 implementing countries, the eiti is supported by a coalition of government, companies and.
Uk extractive industries transparency initiative uk eiti report 2015 pdf, 3. The democratic republic of timorleste rdtl extractive industries transparency initiative reconciliation exercise covering the period from 1 january to 31 december 2012, was carried out by moore stephens in accordance with our service contract dated 18 september 2014 and as approved by the multistakeholder working group msg. The extractive industries transparency initiative eiti is a global standard that promotes transparency and accountability in the oil, gas and mining sectors. Appendix 1 contains the scope and methodology, as well as sites visited. Definitions and applicability the extractive industries transparency initiative eiti sets a global standard, implemented by signatory countries and companies, for companies to publish what they pay for resource extraction rights and for. The main objective of the eiti is to disclose what gas, oil and mining companies pay to government and what government receives from these extractive companies as revenue. The extractive industries transparency initiative eiti seeks to be a global standard intended to promote open and accountable management of natural resources and seeks to strengthen government and company systems, inform public debate, and enhance trust. An analysis of the extractive industry transparency initiative. Extractive industries transparency initiative eiti. Eleven companies and a government agency were listed and published in several local dailies in monrovia as well as aired on popular radio shows. The png extractive industries transparency initiative pngeiti is a png government initiative established in 20 to promote accountability and transparency of revenue received from the countrys mining, oil and gas sector and how it spends these funds.
The extractive industries transparency initiative members. For these people, wealth in natural resources has failed to deliver sustainable economic and social development that benefits the many, not only a few. Extractive industries transparency initiative report for papua new guinea png. May 18, 2017 oig inspected progress being made in the united states to meet the requirements of the extractive industries transparency initiative eiti, which currently has 56 participating nations concerned about worldwide corruption and mismanagement of extractive resources such as oil, natural gas, coal, gold, and renewable energy. The extractive industries transparency initiative eiti is an international standard for openness around the management of revenues. Natural resources can bring considerable amounts of wealth to a country.
Extractive industry definition in the cambridge english. We are pleased that in november 20 19 the uk was assessed as having made meaningful progress in implementing the eiti standard and look forward to building on this in. This report for the 2014 financial year, is the culmination of sustained efforts and collaboration between the png government, the extractive industries and civil society to deliver an informative picture of the extractives sector in png, its. Extractive industries transparency initiative wikipedia. The extractive industries transparency initiative eiti natural. The multistakeholder group msg of the ghana extractive industries transparency initiative gheiti has produced and will formally launch the countrys 2015 mining, oil and gas eiti audit reports, published on april 30th, 2018.
The extractive industries transparency initiative eiti the extractive industries transparency initiative eiti is a global standard that promotes transparency and accountability in the oil, gas and mining sectors. The extractive industries transparency initiative eiti is the global standard for the. The initiative is an example of international standard setting, or soft law. The extractive industries transparency initiative eiti.
Pdf the extractive industry transparency initiative eiti. The extractive industries transparency initiative eiti was founded in 2003 with the goal of strengthening governance by increasing transparency over revenues from the oil, gas, and mining sectors. The eiti is of relevance to the global transparency and accountability agenda. The extractive industries transparency initiative has little impact on the u. Who we are extractive industries transparency initiative.
By doing so, the eiti seeks to strengthen public and corporate governance, promote understanding of natural resource management and provide the data to inform reforms for greater transparency and accountability in the extractives sector. The extractive industries transparency initiative eiti is a coalition of donors, mining companies, resourcerich countries, civil society organizations and investors. Information and transparency in extractive industries in order to exchange experiences and bestpractices regarding the implementation of the requirements of the global extractive industries transparency initiative eiti and to participate at the 40 th eiti board meeting in berlin, a delegation of mexicos multistakeholdergroup msg. Extractive industries transparency initiative eiti prem week 2008 joint event on extractive industries ei. Bringing transparency and accountability to natural resources. A countrys natural resources, such as oil, gas, metals and minerals, belong to its citizens. Papua new guinea extractive industries transparency. It complements the reporting from the eiti board to the eiti members meeting and annual financial reporting. Pdf the global promotion of transparency for the extractive. The extractive industries transparency initiative eiti promotes openness and accountable management of natural resources by setting a global transparency standard. Sep 05, 2014 the natural resources sectorparticularly extractive industries like mining and petroleumis famously beset by corruption.
Transparency in the extractive industries is no longer an exception. To achieve this objective, transparency and accountability by organizations and government agencies involved in the extractives sector oil, gas and metals is. Globally, petroleum and its derivatives account for 15 per cent. Eiti plausibly contributes to global policy frameworks. The extractive industries transparency initiative eiti is a global standard for the good governance of oil, gas and mineral resources. Extraction of these resources can lead to economic growth and social development. Transparency international eu the global coalition. On march 19, 2014, the united states was accepted as a candidate country to the global transparency standard of the extractive industries transparency initiative eiti. In many countries, natural resource extraction is controlled by the wealthy, politicallyconnected elite, leading to a form of resource curse in which the majority of the population does not benefit from natural resource wealth and economic. The extractive industries transparency initiative eiti has become the most widely implemented and supported transparency initiative within natural resource governance. The trinidad and tobago extractive industries transparency initiative tteiti is part of an international coalition of governments, extractive companies and civil society working together to improve openness and accountable management of revenues from oil, gas and minerals. The liberia extractive industries transparency initiative has named several companies and a government agency for failing to make timely disclosure of tax payment data to the 9th eiti report on liberia. United states extractive industries transparency initiative multistakeholder group advisory committee meeting december 1112, 20 summary of proceedings u. Economists, public finance professionals, and policy makers working in such countries are frequently confronted with issues that require an indepth understanding of the sector.
The natural resources sectorparticularly extractive industries like mining and petroleumis famously beset by corruption. The extractive industries transparency initiative eiti standard provides an opportunity for. Standard guidance cop 29 extractive industries transparency. Extractive industries transparency alliance home facebook.
The extractive industries transparency initiative eiti is the global standard to promote the open and accountable management of oil, gas and mineral resources guided by the belief that a countrys natural resources belong to its citizens, the eiti has established a global standard to promote the open and accountable management of oil, gas and mineral resources. The eiti standard extractive industries transparency. The extractive industries transparency initiative eiti has become an. The extractive industries transparency initiative eiti is a global standard for promoting revenue transparency and accountability in counties rich in oil, gas and mineral resources. Extractive industries transparency initiative source book 5 commitment to high standards of transparency and accountability in public life, government operations and in business. Countries participate by issuing annual reports reconciling payments from the extractive industries to receipts by governments, in accordance with the eiti standard. Thus far, almost sixty countries have publicly committed to implement the eiti standard, which specifies the requirements for countries implementing the eiti. May 23, 20 the extractive industries transparency initiative eiti is an international standard for openness around the management of revenues from natural resources. Apr 22, 2008 extractive industries transparency initiative eiti prem week 2008 joint event on extractive industries ei.
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