What the EITI stands for
The global ‘Extractive Industries Transparency Initiative’ (EITI) advocates more financial transparency and accountability in the extractive sector.
Founded in 2003, the initiative had its first origins as part of the 2002 Sustainability Summit in Johannesburg, South Africa. It is based on close cooperation between governments, companies and civil societies in more than 50 countries. These countries disclose information on tax payments, licenses, quantities extracted and other important data about the extraction of oil, gas and mineral resources.
The populations of resource-rich countries can particularly benefit by doing so, because where information on revenues is disclosed, there is less mistrust and fewer conflicts – and funds can foster the economic and social development of a country.
The EITI also promotes an informed debate on the policies regarding natural resources and their use by making information available to the public. This enables the citizens of a country to hold those responsible for politics and the economy more accountable.
You may also be interested in...
Stakeholders from different sectors
How Germany is implementing the standard
RT @EITIorg: The latest edition of Extractives InSight it out!📩 Read more about the EITI's response to Covid-19🌍, comments to the proposed…
Downlaod des 2. D-EITI-Berichts - Bericht für 2017
EITI Board Meeting in Oslo 13.-14. Februar 2020