EITI Origins – Breaking the Resource Trap
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Transcript of EITI Origins – Breaking the Resource Trap
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Importance of a transparent and accountable framework for extraction –
getting it right from startCopenhagen 14 May 2014
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Coming from - EITI Origins – Breaking the Resource Trap
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The EITI is a global standard for disclosing company payments and government revenues in the extractive sector.
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The EITI Standard has two core elements:
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The EITI Standard has two core elements:
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The EITI Standard ensures transparency and accountability in more areas of the natural resource value chain.
A national multi-stakeholder group (government, companies and civil society) decides how their EITI process should work.
Government revenues and company payments are disclosed together with contextual information and independently assessed in an EITI Report.
The findings are communicated to create public awareness and debate about how the country should better manage their resources.
Production data(required)
Transfers to local government(required)
Transit payments(encouraged)
State -owned Enterprises
(required)
Government publish receipts
Companies publish payments
Licenses & contracts
Monitoring production Tax collection Revenue
allocationExpenditure
management
Licensing information(required)
State Ownership(required)Production
contracts(encouraged)
Beneficial ownership(encouraged)
Company social and infrastructure investments(required)
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In Nigeria they are using the EITI numbers to reveal missing payments and create debate about how the country’s resources are governed. US $10 billion identified as owed by the national oil company and US $2 billion recovered.
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License holders, Norway
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Contract disclosure, Liberia
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Contextual information, Kyrgyzstan Production Data
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Legal framework, Albania
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Production data, Tanzania
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• In countries with extraction is largely new, such as Ghana, it mitigates corruption, contributes to long-term planning and the managing of expectations.
• In post conflict environments, such as Liberia and Timor-Leste, EITI has been useful in building trust and attracting quality foreign direct investment.
• In large countries with complex sectors, such as Nigeria, DRC and Kazakhstan, EITI has been useful in finding out who is doing what and in tracking the money.
• In countries with weak institutional environments, such as Chad, the process of producing the Report has been diagnostic.
• In countries with strong and well-functioning
institutions, such as Norway, EITI can facilitate access to information in a simple and comprehensive format.
Why transparency
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In Indonesia, the EITI report looks at how the natural resources could be used to address the challenges of corruption and social spending.
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Building trust for national energy and resource governance
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44 Countries18
Compliant 26
Candidates
>$1000Billions
400 around the world working full time. 900 serve on EITI national commissions
198
Fiscal years
Update: 1 Nov 2012
EITI reports
120
EITI key stats
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Civil society organisations
The EITI supporters
International organisationsExtractive companies
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Recently Australia*, Colombia, Ethiopia, France, Germany*, Italy, Papua New Guinea, the UK and the US have taken steps towards implementing the EITI.
*Australia is conducting an EITI pilot, Germany has committed to a pilot.
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Key Features of EITI• Country ownership - shape the EITI
as appropriate in each country.• Annual reporting – both for
companies and for government.• Make use of the data to answer
the key questions facing the country and create public debate.
• Multi-stakeholder governance at all levels.
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Key Features of EITI• Country ownership - shape the EITI
as appropriate in each country.• Annual reporting – both for
companies and for government.• Make use of the data to answer
the key questions facing the country and create public debate.
• Multi-stakeholder governance at all levels.
![Page 24: EITI Origins – Breaking the Resource Trap](https://reader035.fdocuments.in/reader035/viewer/2022062404/554dde8db4c905d10e8b53e6/html5/thumbnails/24.jpg)
Through implementing the global EITI transparency Standard, countries ensure more transparency of revenues from its oil, gas and mineral resources.
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The EITI Standard ensures transparency and accountability in more areas of the natural resource value chain.
A national multi-stakeholder group (government, companies and civil society) decides how their EITI process should work.
Government revenues and company payments are disclosed together with contextual information and independently assessed in an EITI Report.
The findings are communicated to create public awareness and debate about how the country should better manage their resources.
Production data(required)
Transfers to local government(required)
Transit payments(encouraged)
State -owned Enterprises
(required)
Government publish receipts
Companies publish payments
Licenses & contracts
Monitoring production Tax collection Revenue
allocationExpenditure
management
Licensing information(required)
State Ownership(required)Production
contracts(encouraged)
Beneficial ownership(encouraged)
Company social and infrastructure investments(required)
![Page 26: EITI Origins – Breaking the Resource Trap](https://reader035.fdocuments.in/reader035/viewer/2022062404/554dde8db4c905d10e8b53e6/html5/thumbnails/26.jpg)
Jonas Moberg, Head of the International [email protected]