Mainstreaming—or the move toward meeting EITI requirements through routine and publicly available company and government reporting, rather than standalone EITI reports—has the potential to significantly improve the timeliness, contextualization and quality of disclosed data.
Contract disclosure in oil, gas and mining is rapidly becoming standard practice around the world, but in Myanmar, there has been little progress on contract transparency. The government now has an important opportunity to overhaul disclosure requirements and ensure Myanmar keeps pace with a growing global trend.
This briefing explains why the Mongolian government should publish natural resource contracts, describes the different contracts that exist in Mongolia’s extractive sector that should be disclosed, and suggests a path for making natural resource contract transparency a reality.
NRGI was instrumental in the passage of a Ukraine law that mandates the disclosure of extractive payments at the project level, the disclosure of the ultimate beneficial owners of companies, and the disclosure of “material” elements of contracts relating to the extractive industry.
Regulatory and public pressure to increase transparency about the real people who own, control, or gain substantial economic benefits from companies—also known as beneficial owners—is growing globally.