* Thirty-five countries are currently implementing the ElTI, and eleven countries are currently EITI
compliant (i.e., a functioning multistakeholder group has consistently published the relevant payments and revenues) while several others are in advanced stages toward compliance.
The announcement was made by the EITI
board at the 5th EITI
Global Conference running in Paris on 2-3 March.
Civil society has, however, raised serious concerns about the voluntary approach of EITI
, which is likely to let the worst offenders escape scrutiny and has therefore called for mandatory compliance.
is by nature a voluntary initiative at the state level; but within implementing countries, compliance with EITI
reporting is effectively mandatory, either carrying the force of law (67) or constituting a de facto requirement for continued extractive activities.
International Advisory Group to help design EITI
'Working with Transparency International and the EITI
we ultimately have a role to play in ending the potential for an abuse of power, bribery or secret deals,' he said.
The Extractive Industries Transparency Initiative (EITI
), which Tunisia would join in the next two years, should enhance the confidence of foreign business operators who want to invest in the extractive industries.
Europe's leading independent gas and oil company is one of the two businesses that served as direct representatives of their respective sectors, while most industrial sectors are represented in the EITI
process by associations.
Stakeholders in a country (government, companies, as well as civil society, and in some countries the Parliament acting as an oversight body), produce an EITI
report with sector-specific information that can be used to push reform and sound management of the extractive sector.
According to SOFAZ, new heads of the organization's Secretariat and Board alongside changes to the Initiative's standards will be presented among other issues to the entire EITI
global community for approval at the next EITI
Global Conference, the largest and most important event of the Initiative, to be held in Paris in June this year.
Guided by the belief that a country's 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.
is an international body that sets global standards for transparency in oil, gas and mining,