October 2006, Publish What You Pay | Revenue Watch Institute
In the last decade, there has been a growing awareness that improved transparency and accountability for the huge revenues generated by oil, gas, and mineral industries is vital to avoiding the “resource curse” and improving their use in reducing poverty and generating economic growth. The launch of the Extractive Industries Transparency Initiative (EITI) in September 2002 reflected this shared agenda. The EITI is a “world first” in which governments, civil society, companies, and investors are all directly involved in the development and governance of the initiative with the technical and financial support of international financial institutions (IFIs).
Publish What You Pay (PWYP) is a global civil society coalition with over 300 member organizations from more than 30 countries around the world working to promote transparent and accountable management of natural resource revenues. This report presents their insights into the realities of EITI implementation in specific countries and presents recommendations on what is needed to ensure success.
In the four years since its launch, EITI has recorded some notable achievements. Twenty-one governments of resource-rich countries in Africa, Asia, Latin America, and Central Asia have endorsed the initiative and the International Advisory Group (IAG) has developed many of the necessary guidelines, criteria, and governance structures. However, an analysis of progress by the PWYP coalition shows that there is great room for improvement.
Such progress is a testament to the willingness of participating governments and companies to publicly commit to greater transparency in the management of natural resource revenue, to the engagement of civil society organizations, to the diligent and dedicated work of the IAG, and to the financial and technical support of donor governments and international financial institutions. This report attempts to highlight some of the positive examples and lessons learned from work to date.
Publish What You Pay (PWYP) is a global civil society coalition with over 300 member organizations from more than 30 countries around the world working to promote transparent and accountable management of natural resource revenues. This report presents their insights into the realities of EITI implementation in specific countries and presents recommendations on what is needed to ensure success.
In the four years since its launch, EITI has recorded some notable achievements. Twenty-one governments of resource-rich countries in Africa, Asia, Latin America, and Central Asia have endorsed the initiative and the International Advisory Group (IAG) has developed many of the necessary guidelines, criteria, and governance structures. However, an analysis of progress by the PWYP coalition shows that there is great room for improvement.
Such progress is a testament to the willingness of participating governments and companies to publicly commit to greater transparency in the management of natural resource revenue, to the engagement of civil society organizations, to the diligent and dedicated work of the IAG, and to the financial and technical support of donor governments and international financial institutions. This report attempts to highlight some of the positive examples and lessons learned from work to date.
