Opening Extractives Programme – Global Peer Learning Exchange Event in Yerevan, Armenia

In the run-up to the 64th EITI Board Meeting, the EITI and Open Ownership invited countries participating in the Opening Extractives Programme to a two-day exchange of experiences.

The aim was to share achievements to date and experiences with beneficial ownership disclosure in the extractive sector and to drive improvements. Representatives of civil society and government from 12 countries around the world exchanged their practical experiences with disclosure requirements and transparency registers.
The D-EITI Secretariat was also able to participate as an observer and took away the following key messages from the joint discussions:

• The disclosure of beneficial owners requires a robust legal framework.
• There is great potential in linking the disclosure of information on beneficial owners in extractive companies to the granting of mining rights.
• Information in transparency registers must be verified in order to be useful.
• The (digital) networking of competent authorities and registers, including across national borders, is crucial for coherent and complete data.
• Flexibility in the technical development of transparency registers reduces bureaucracy and increases acceptance of the domestic extractive sector.

You can read more about beneficial owners and their disclosure in Germany on the D-EITI reporting portal: Beneficial Ownership » D-EITI