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Extractive Industries Transparency Initiative (EITI)

The Extractive Industries Transparency Initiative, or EITI, is a Norwegian-based nongovernmental organization founded in June 2003. The initiative is a global standard to promote open and accountable management of natural resources. It seeks to strengthen government and corporate systems, inform public debate, and enhance trust among relevant stakeholders. Among the primary stakeholders are resource-rich countries, international and national extractive companies, civil society, global stockholders, and supporting countries. The seven requirements of the EITI standard are as follows:

  • Effective oversight by the multistakeholder group
  • Timely publication of EITI reports
  • EITI reports that include contextual information about the extractive industries
  • The production of comprehensive EITI reports that include full government disclosure of extractive industry revenues and disclosure of all material payments to government by oil, gas, and mining companies
  • A credible ...
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