The Extractive Industries Transparency Initiative (EITI) is an international standard that ensures transparency around countries’ oil, gas and mineral resources. In countries implementing the EITI, companies are required to publish what they pay to governments and governments are required to publish what they receive from companies. These figures are then reconciled by an independent administrator.
The EITI was announced by Tony Blair, the then-Prime Minister of the United Kingdom, at the World Summit on Sustainable Development in Johannesburg, South Africa in September 2002.
A multi-stakeholder group (MSG) that includes representatives from the government, industry and civil society oversees the EITI process in each country.
The EITI maintains the EITI Standard. Countries implement the EITI Standard to ensure full disclosure of taxes and other payments made by oil, gas and mining companies to governments. These payments are disclosed in an annual EITI Report (to see all EITI Reports, go to data.eiti.org). This report allows citizens to see for themselves how much their government is receiving from their country’s natural resources.
Transparency can only lead to accountability if there is understanding of what the figures mean and public debate about how the country’s resource wealth should be managed. Therefore, the EITI Standard requires that EITI Reports are comprehensible, actively promoted and contribute to public debate.
The EITI Standard contains the set of requirements that countries need to meet in order to be recognised as first an EITI Candidate and ultimately an EITI Compliant country. The Standard is overseen by the international EITI Board, with members from governments, companies and civil society.