Extractive Industries Transparency Initiative (EITI)
Year of establishment: 2002
Developed by: Extractive Industries Transparency Initiative (EITI)
Description: EITI is a voluntary initiative that seeks to create transparency and accountability in countries dependent on revenues from oil, gas and mining, and is supported by a coalition of companies, governments, investors and civil society organisations. Alongside other efforts to improve transparency in government budget practice, the EITI begins a process whereby citizens can hold their governments to account for the use of those revenues. The Initiative works to build multi-stakeholder partnerships in developing countries in order to increase the accountability of governments. There is a need for a mutually agreed set of EITI criteria required to be complied with by all countries wishing to implement the EITI.
Key elements:
EITI Criteria and information on how to implement the EITI
OGP Guidelines on Reputational Due Diligence
Year of creation: 2004
Developed by: International Association of Oil and Gas Producers (OGP)
Description: The guidelines are designed as a resource for member companies of the OGP intending to establish and/or maintain effective anti-corruption practices. These include evaluation of the potential risks of doing business with associates and implementation of measures to reduce those risks. It sets out to provide guidelines on designing and conducting due diligence procedures and establishing a framework for in-house programmes. Companies can adapt the guidelines to fit the particular needs and circumstances of their own organisation.
Key elements:
