What is the EITI ?
Created on Monday, 25 August 2014 19:51
Last Updated on Tuesday, 14 June 2016 11:49
Published on Thursday, 26 May 2016 08:33
The EITI (Extractive Industries Transparency Initiative) is a coalition of governments, extractive companies, investors and civil society group, promoting transparency and good governance in the extractive sector (oil, gas and mines) to a significant revenue contribution from this sector to growth, poverty reduction and improvement of living conditions of populations.
The EITI is a nonprofit association of Norwegian law that is now implemented in over 51 countries and on every continent.
Rationale and design:
The EITI is born from the observation that: in many natural resources-rich countries, the revenues from oil, gas and minerals often benefited a small group of people and usually associate with poverty, conflict and to corruption. So instead of being a luck, abundance of natural resources paradoxically seems to be a "curse" affecting much of the populations of these countries. To reverse this paradox, the EITI has been launched under the instigation of former British Prime Minister Tony Blair at the World Summit on Sustainable Development, held from 26 August to 4 September 2002, at Johannesburg in South Africa.
Internationally the implementation structures include:
- The General Assembly: it is the governing body of the EITI Association;
It meets every three years on the sidelines of the Global Conference of the EITI. It adopts the decisions of the Board. It elects the Chairperson of the EITI Board. It is chaired by the Chairman of the EITI Board.
- The Global Conference: it is held every three years in an EITI member countries with the aim of electing the Board of Directors.
- The Board of Directors: it oversees the EITI. It is twenty (20) members representing different stakeholders groups (government/administation, companies and investors, civil society). Mr. Fredrik REINFELDT (the former Swedish Prime Minister), is the current Chairman of the EITI Board, elected on February 23, 2016 by the General Assembly of the EITI at the 7th Global Conference in Lima, Peru. A list of EITI Members can be downloaded here.
- The International Secretariat: based in Oslo, Norway, it is responsible for the daily administration of the EITI and support to member countries.
In each member country, freedom is left to the stakeholders to structure the EITI at their convenience provided to respect the Standard.
In Cameroon, the EITI is implemented by - a Committee chaired by the Minister of Finance assisted by - a Technical Secretariat headed by a Coordinator.
The EITI standard is a set of principles and requirements that explain what the EITI is, how to join, how to support, how to implement the EITI and how to evaluate the performance of a member country.
Validation is an independent and impartial assessment of the performance of a country in meeting the principles and EITI requirements as described in the Standard in force. It is made at the request of member countries by an independent validator recruited on a shortlist compiled and published by the International Secretariat. It is based on the Report of said validator that the EITI Board, determines the compliance status of a country on the proposal of an internal validation committee.
Three status gradually sanction the implementation level of the EITI in a member country. These status are decided by the Board of the EITI.
1- Intermediate country status: it is attributed to the country having just joined EITI.
2- Candidate country status: it is attributed to the country whose government has demonstrated that it has completed each of adherence measures in accordance with the Standard.
3- Compliant country status: it is reserved for the candidate whose examination of the validation report confirms that it has satisfied all the requirements of the EITI Standard.
4. Suspended country status : for countries whose compliance with the EITI requirements can no longer be guaranteed, for various reasons.