Extractive Industries Transparency Initiative (EITI)

Description
The Extractive Industries Transparency Initiative (EITI)  has a robust yet flexible methodology that ensures a global standard is maintained throughout the different implementing countries. The EITI Board and the international Secretariat are the guardians of that methodology. Implementation itself, however, is the responsibility of individual countries. The EITI, in a nutshell, is a globally developed standard that promotes revenue transparency at the local level. The EITI Rules establishes the methodology countries need to follow to become fully compliant with the EITI.
 
EITI Reports
Countries implementing the EITI standard publish EITI Reports that disclose how much revenue the government receives from the extraction of natural resources. In the EITI Report, companies disclose what they have paid in taxes and royalties and the government discloses what it has received. These two sets of figures are compiled and reconciled by an independent reconciler, chosen by the EITI multi-stakeholder group in each EITI implementing country.