The Extractive Industries Transparency Initiative (EITI) is a voluntary initiative through which countries commit to publish reports on how the government manages the oil, gas, and mining sectors. These reports include a reconciliation of revenues paid by extractive companies and revenues received by governments. The process is managed in each country by a multi-stakeholder group of government, civil society, and company representatives.
On March 19, 2014 the United States became the first G8 country accepted as an EITI Candidate, joining a group of now 44 countries working actively to improve the management of their extractive sectors.
The U.S. government has been a strong supporter of EITI since its founding 11 years ago, recognizing that transparency is a critical component of sound governance in countries’ oil and other extractive sectors. In May 2013, the EITI Board adopted extensive revisions to the EITI rules to make them more effective in ensuring transparency and accountability in the extractives sector for the citizens of countries implementing this initiative.
President Obama’s September 2011 announcement that the United States would not only support, but also implement the EITI domestically underscored the Administration’s belief that this initiative benefits countries in all regions and all levels of development. Implementing EITI is one of the commitments made by the United States in its Open Government Partnership (OGP) national action plan. OGP is an international effort to promote transparent, accountable and open governments. The State Department works closely with the U.S. Department of the Interior (DOI), which leads this effort. For more information about USEITI, please see www.doi.gov/eiti.
A fact sheet is available in multiple languages at http://eiti.org/document/factsheet
The list of countries participating in the EITI may be found at http://eiti.org/countries
(Jan. 31): Opening Remarks: Extractive Industries Transparency Initiative (EITI) Panel Discussion, Special Envoy and Coordinator for International Energy Affairs Carlos Pascual. Full Text»