The voluntary nature of new EITI guidelines means that comprehensive disclosure of detailed information on purchases by traders is unlikely in the near term. Authorities in jurisdictions where commodity traders are based should move to legally require the disclosure of these sizeable payments.
Research for the 2021 edition of NRGI's Resource Governance Index has begun. The index measures the governance of oil, gas and mining sectors in resource-producing countries and provides freely available public data to help inform evidence-based decision-making.
Stakeholders in resource-rich countries deserve timely information on the social and economic implications of fundamental changes unfolding in the extractive sector, especially those related to the energy transition.
Extractive sector policies and governance choices are holding back solar and wind projects in many countries. Part of the trouble lies in the shortsighted habits of political decision-making that oil, gas or coal exploitation can foster. Debates about domestic energy use are highly political and can fall prey to narrow agendas.
If member countries of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting adopt this proposal, they should exempt extractive industries so as to protect the legitimate interests of resource-exporting countries.
One of the drivers of the Extractive Industries Transparency Initiative's inception over fifteen years ago was the need to address corruption. Here, NRGI president and CEO Daniel Kaufmann offers evidence-based ideas for how EITI can better meet that goal.