What is the EITI
EITI abbreviation stands for the Extractive Industries Transparency Initiative. The Extractive Industries Transparency Initiative (EITI) is the global standard to promote 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 goal of EITI implementation in Ukraine is to ensure transparency in country's natural resources governance and disclose data about government revenue from the oil, gas and mining sector. Currently, 54 countries of the world are implementing the EITI Standard. More information about EITI countries is available on EITI international website .
The EITI is the global standard for the good governance of oil, gas and mineral resources. When implemented by a country, the EITI ensures transparency and accountability about how a country's natural resources are governed. This ranges from how the rights are issued, to how the resources are monetized, to how they benefit the citizens and the economy. The standard regulates all stages of EITI implementation: establishing and functioning of the Multi-stakeholder group (MSG), requirements for EITI Reports preparation, civil society participation, countries validation and more. EITI Standard offers a clear and simultaneously flexible methodology for disclosing and verifying companties’ payments and government revenues in EITI countries. For more information about Standard please click here.
EITI Board and International EITI Secretariat
The Board is the EITI's main governing body. It consists of 21 members representing implementing countries, supporting countries, civil society organizations, industry and institutional investors. There are two representatives of Ukraine at the EITI Board: national deputy Olga Beilkova and Director of the Democratic Practice Program of International Renaissance Foundation Oleksiy Orlovskiy. International EITI Secretariat works on ensuring the EITI Standard implementation at the international level.
Validation is an essential feature of the EITI process. It is intended to provide all stakeholders with an impartial assessment of whether EITI implementation in a country is in line with the provisions of the EITI Standard. The Validation report seeks to identify the impact of the EITI in the country being validated, lessons learnt in implementation, as well as address any concerns stakeholders have expressed and recommendations for future implementation of the EITI. During 2017, Ukraine passed its first validation and EITI Board recognized that Ukraine had made meaningful progress in EITI Standard implementation.