How many countries are in EITI?
Through participation in the EITI, 55 countries have agreed to a common set of rules governing what has to be disclosed and when – the EITI Standard. In each country that has joined the EITI, a multi-stakeholder group, composed of government, companies and civil society supports implementation of the EITI Standard.
What are the benefits of EITI to implementing countries?
For a relatively low cost, EITI also assists in strengthening licensing, record keeping and tax collection systems, and legal and fiscal frameworks. The EITI national platforms for accountability improve reforms and governance, as well as promoting greater economic and political stability.
What is the EITI standard?
The global standard for the good governance of oil, gas and mineral resources. The EITI is the global standard for the good governance of oil, gas and mineral resources. This ranges from how the rights are issued, to how the resources are monetised, to how they benefit the citizens and the economy. …
Is Kenya a member of EITI?
Although Kenya is not currently classified as a candidate country, Base Titanium encourages the Government of Kenya to adopt the EITI Standard and it advocates at every opportunity that Kenya applies for membership.
What does EITI stand for?
The Extractive Industries Transparency Initiative (EITI) implements the global standard to promote the open and accountable management of oil, gas and mineral resources.
When was EITI founded?
June 17, 2003
Extractive Industries Transparency Initiative/Founded
How does the EITI work?
The EITI (Extractive Industries Transparency Initative) is an international standard for openness around the governance of oil, gas and mineral resources. Governments disclose how much they receive from extractive companies operating in their country and these companies disclose how much they pay.
What is the Extractive?
(Entry 1 of 2) 1a : of, relating to, or involving extraction. b : tending toward or resulting in withdrawal of natural resources by extraction with no provision for replenishment extractive agriculture. 2 : capable of being extracted.
When did Ghana join EITI?
One in four Ghanaians lives in poverty despite the country’s significant natural resources. Ghana joined the EITI in 2007 and became compliant in 2010. Its early EITI reports revealed very low levels of government revenues from the mining sector, ranging from US $27 million in 2004 to $91 million in 2008.
Is EITI effective?
There is good evidence that the EITI has been successful in establishing the MSGs in the implementing countries and that MSGs often provide one of the very first opportunities for many civil society organizations to directly discuss natural resource governance with the government and extractive industries, and to …
Is EITI voluntary?
Is the EITI voluntary? However, once implementation begins, the country is required to achieve compliance with the EITI Requirements. To do this, all companies and government agencies making or receiving payments must participate. The EITI leads to full disclosure within implementing countries.
What are extractives in meat?
“Besides, meats contain flavoring and stimulating principles, called extractives, which increase the desire for them.” “Flavor in meat depends mainly on certain nitrogenous substances which are called extractives because they can be dissolved out or “extracted” by soaking the meat in cold water.”
Who are the countries implementing the EITI Standard?
Countries implementing the transparency standard include OECD states such as Norway, the United Kingdom and the United States as well as countries in Africa, Central and East Asia, Europe, and Latin America and the Caribbean. When a country intends to join the EITI Standard, it is required to undertake five sign-up steps before applying.
Where is the Secretariat of the EITI located?
The Members’ Meeting governs the EITI and convenes alongside the EITI global conferences, which are held every two to three years. The board develops the Standard and assesses the progress of the countries. It is supported by the international secretariat, located in Oslo, Norway.
What is the extractive industries transparency initiative ( EITI )?
The Extractive Industries Transparency Initiative (EITI) is a global standard for the good governance of oil, gas and mineral resources. It seeks to address the key governance issues in the extractive sectors. The EITI Standard requires information along the extractive industry value chain from…
How often does the EITI Board of directors meet?
The EITI Board meets between two and four times a year and is composed of three groups: countries, companies and civil society. The membership of the Board reflects the multi-stakeholder nature of the EITI.