Extractive Industries Transparency Initiative (EITI) is the global standard for the good governance of oil, gas and mineral resources. It promotes the open and accountable management of oil, gas and mineral resources.
The Standard seeks to address the key governance issues of the oil, gas and mining sectors. The EITI Standard requires countries and companies to disclose information on the key steps in the governance of oil, gas and mining revenues:
The Standard serves as a tool for countries to improve the management of their oil, gas and mining sectors.
Implementation happens in three steps:
- A national multi-stakeholder group (government, companies and civil society) decides how the EITI process in their country should work.
- Key information about the governance of the sector is reported annually alongside recommendations for improving sector governance.
- This information is widely disseminated to inform public debate and recommendations are often followed up.