EITI Mary Hunt, International EITI Secretariat October 2006 UK DEPARTMENT FOR INTERNATIONAL DEVELOPMENT 1 Palace Street, London SW1E 5HE

Page 1 EITI – The Basics  Proposed by PM Blair at Sustainable Development Summit Johannesburg,  A coalition of governments, companies, civil society groups, investors and international organizations.  Supports improved governance in resource rich countries through the full publication and verification of company payments and government revenues from oil, gas, and mining.

Page 2 Story So Far st EITI conference; Pilots; March London Conference (300 delegates) EITI Source Book (criteria; Guidance; templates) International Advisory Group Estalished. Goal is to defiine and refine proposals on: Future Management Arrangements; How to verify implementation; Other future challenges for EITI. IAG will report to the Oslo Conference

Page 3 SIGN UP PREPARATION DISCLOSURE DISSEMINATION VALIDATION

Page 4 EITI Criteria 1. Regular publication of payments and revenues received by governments from oil, gas, and mining companies. 2. Payments and revenues are the subject of a credible, independent audit 3. Payments and revenues are reconciled by a credible, independent administrator 4. Approach extended to all companies including state- owned enterprises 5. Civil society is actively engaged 6. A public, financially sustainable work plan

Page 5 Local and state Companies Multinationals Implementing governments Local civil society groups Intl organisations IFIs and RDBs Donors Investors Intl civil society groups EITI Stakeholders

Page 6 Interest (8+)Committed (12)Implementing (8)Supporters EITI countries

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Page 8 The role of EITI Supporters Political leadership – encouraging support in international fora and bilaterally; Coalition building – bringing more developing countries, donors, companies, and civil society organisations into the process; Policy development - eg verification of EITI process; future arrangements; incentives; links to other initiatives; emerging economy buy-in; Supporting implementing countries – providing advice and capacity building; Funding of the EITI multi-donor trust fund in the World Bank

Page 9 Types of assistance for implementing countries Capacity building for government. Capacity building for civil society. Mentoring – eg on stakeholder management. Funding of administrator / auditor costs. Project management costs. Publication and dissemination costs.

Page 10 Future of EITI IAG will report at Oslo Conference on : Validation Future Governance Key policy challenges for EITI (Emerging Economies;mining;subnational issues; incentives; links with other initiatives); Priority Issues = Increasing support base for EITI (Donors; MDBs; Emerging Economies Financing Location of Secretariat

Page 11 Thank-You