EITI standard

Related Commodity:

Any

Type of Regulation:

Voluntary Standards

Country or Organisation:

Extractive Industries Transparency Initiative

Year:

2009

Description:

The standard works as a framework for signatory countries to improve the governance of oil, gas and mineral resources. It builds upon a series of disclosure requirements regarding stakeholders’ engagement, contracts and licenses’ allocation, production and exports, revenue collection and allocation, as well as social and economic spending. EITI signatories must adhere to the EITI principles and work towards their implementation which is assessed by the EITI secretariat.

Requirements:

EITI signatory countries must adhere to the EITI principles and work towards their implementation which is assessed by the EITI secretariat as 1) satisfactory, 2) meaningful, or 3) inadequate progress, in which case membership is suspended.

Member Countries:

Validated coutry signatories: Afghanistan; Albania; Armenia; Burkina Faso; Chad; Colombia; Côte d’Ivoire; Democratic Republic of Congo; Dominican Republic; Ethiopia; Germany; Ghana; Guinea; Indonesia; Iraq; Kazakhstan; Kyrgyz Republic; Liberia; Madagascar; Malawi; Mali; Mauritania; Mongolia; Mozambique; Nigeria; Norway; Papua New Guinea; Peru; Philippines; Republic of the Congo; Senegal; Seychelles; Sierra Leone; Suriname; Tajikistan; Tanzania; Timor-Leste Togo; Trinidad and Tobago; Ukraine; United Kingdom; Zambia