eiti - extractive industry transparency initiative
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Some milestones of EITI

More extensive information about current developments is available from the EITI Secretariat site: click here.

The Extractive Industries Transparency Initiative (EITI) was launched in September 2002, at the World Summit on Sustainable Development. The EITI aims to ensure that the revenues from extractive industries contribute to sustainable development and poverty reduction. It has been championed by the UK Department for International Development, and supported by the World Bank and the IMF. Transparency International made the following statement in June 2003 at a London conference:

"In many parts of the world, countries face the paradox whereby a great wealth of natural resources coexists with great poverty among the people. In short, the benefits of the extraction of natural resources are diverted to the enrichment of small corrupt elites. It is now recognized by an increasing number of stakeholders that the transparency of revenues generated form the oil, gas and mining industries has become a prerequisite for the equitable economic and social development in many resource-rich countries."

2013

At the Global EITI conference in Sydney, stakeholders adopted a new EITI Standard aimed at moving beyond transparency towards accountability.

The UK and France have announced that they intend to implement EITI.

2011

On 2-3 March the 5th EITI Global Conference in Paris took place, with attendees including Presidents of the Kyrgyz Republic, Mozambique and Tanzania, the CEOs of Royal Dutch Shell, Total, and AREVA, and founder of the Open Society Foundations, George Soros.

Clare Short was elected as the new EITI Chair at the conference. Ms Short is the former UK Secretary of State for International Development 1997-2003.

The Central African Republic, The Kyrgyz Republic, Niger, Nigeria, Norway, and Yemen have achieved Compliance with the EITI. The EITI Board designated them as 'EITI Compliant' at their meeting in Paris, bringing the total number of EITI Compliant countries up to 11. In addition, Guatemala and Trinidad and Tobago were welcomed as new EITI Candidate countries, bringing the total number of EITI implementing countries up to 35.

The EITI Progress Report 2009-2011 was also launched in March 2011.

2010

More than 80 participants including EITI National Coordinators from 31 countries, and representatives from the European Commission and the World Bank, gathered for the EITI National Coordinators Meeting on 8-10 March 2010 in Brussels.

In October 2010, the EITI board designated Ghana and Mongolia as EITI Compliant, and accepted Indonesia and Togo as EITI Candidates.

2009

The 4th EITI Global Conference took place in Doha, Qatar, in February.
Azerbaijan completed its Validation and attained the status of being the first EITI Compliant Country.
In May, four new countries were admitted as EITI candidates. The total number of EITI implementing countries is now 30.

2008

A meeting in Accra, Ghana, agreed the validation methodology.
The EITI welcomed seven new Candidate Countries.
Côte d'Ivoire became the 23rd EITI Candidate Country.

2007

On September 26, the EITI Secretariat was formally opened in Oslo.

2006

In October 2006 the EITI conference created an international multistakeholder board to oversee the governance of EITI, and a full time secretariat.
The EITI conference also required that countries and companies that commit to participating in EITI be required to periodically validate their progress in meeting the international standard by submitting to independent third party validation of their performance.

2005

A Statement of Principles of the EITI, agreed in March 2005, may be found here. Relevant source materials may be found through the following links:

The IMF has already a set of transparency guidelines that are widely regarded as effective and useful. These would not be superseded by the EITI but would run in parallel. An IMF Factsheet is available here.

2003

The G8 countries in June 2003 supported an intensified approach to transparency and made commitments to:

  • Provide capacity building support where this is needed.
  • Encourage governments and both private and state-owned companies to disclose their revenue flows and payments.
  • Work with participating governments to achieve high standards of transparent public revenue management, including the processes for awarding contracts and concessions.
There is thus a significant momentum towards openness and transparency. Hart Group is pleased to support this initiative.

2002

The conference also recognized the UK government efforts in bringing together representatives of governments, industry and civil society to work on the subject, in developing the necessary templates for data collection and aggregation and in building a considerably enhanced level of awareness of the issue around the world among both governments and the industries concerned; and searching for countries willing to pilot the EITI process.

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