EITI Mary Hunt, International EITI Secretariat October 2006 UK DEPARTMENT FOR INTERNATIONAL DEVELOPMENT 1 Palace Street, London SW 1 E 5 HE www. dfid. gov. uk
EITI – The Basics § Proposed by PM Blair at Sustainable Development Summit Johannesburg, 2002. § A coalition of governments, companies, civil society groups, investors and international organizations. § Supports improved governance in resource rich countries through the full publication and verification of company payments and government revenues from oil, gas, and mining. Page 1
Story So Far • 2003 1 st EITI conference; Pilots; March 2005 - London Conference (300 delegates) • EITI Source Book (criteria; Guidance; templates) • International Advisory Group Estalished. Goal is to defiine and refine proposals on: • • Future Management Arrangements; How to verify implementation; Other future challenges for EITI. IAG will report to the Oslo Conference Page 2
SIGN UP PREPARATION DISCLOSURE DISSEMINATION VALIDATION Page 3
EITI Criteria 1. Regular publication of payments and revenues received by governments from oil, gas, and mining companies. 2. Payments and revenues are the subject of a credible, independent audit 3. Payments and revenues are reconciled by a credible, independent administrator 4. Approach extended to all companies including state- owned enterprises 5. Civil society is actively engaged 6. A public, financially sustainable work plan Page 4
EITI Stakeholders Multinationals Intl civil society groups Implementing governments Intl organisations Local and state Companies Local civil society groups Donors IFIs and RDBs Investors Page 5
EITI countries Implementing (8) Committed (12) Interest (8+) Supporters Page 6
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The role of EITI Supporters • Political leadership – encouraging support in international fora and bilaterally; • Coalition building – bringing more developing countries, donors, companies, and civil society organisations into the process; • Policy development - eg verification of EITI process; future arrangements; incentives; links to other initiatives; emerging economy buy-in; • Supporting implementing countries – providing advice and capacity building; • Funding of the EITI multi-donor trust fund in the World Bank Page 8
Types of assistance for implementing countries • Capacity building for government. • Capacity building for civil society. • Mentoring – eg on stakeholder management. • Funding of administrator / auditor costs. • Project management costs. • Publication and dissemination costs. Page 9
Future of EITI IAG will report at Oslo Conference on: Validation • Future Governance • Key policy challenges for EITI (Emerging • Economies; mining; subnational issues; incentives; links with other initiatives); Priority Issues = Increasing support base for EITI (Donors; MDBs; Emerging Economies • Financing • Location of Secretariat • Page 10
Thank-You www. eitransparency. org Page 11
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