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Right to public information The example of EITI,

Right to public information The example of EITI, of knowing what Governments earn from selling a countries’ natural resources Carter Centre, 27 February 2008 Jonas Moberg, Head of the EITI Secretariat. 1. The problem. 3.5 Billion people live in countries rich in oil,gas & minerals.

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Right to public information The example of EITI,

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  1. Right to public information • The example of EITI, • of knowing what Governments earn from selling a countries’ natural resources • Carter Centre, 27 February 2008 • Jonas Moberg, Head of the EITI Secretariat

  2. 1. The problem

  3. 3.5 Billion people live in countries rich in oil,gas & minerals... Bad management and lack of transparency of these resources can lead to poverty, conflict and corruption...

  4. Financial statementBoard paper 4-2, p. 11

  5. A Commodities Boom... Source: The Economist July 20th 2006

  6. = A Resource Revenue Boom.

  7. 2. Part of the solution?

  8. How Does EITI Work? 2. Government ‘publish what they receive’ 1. Companies ‘publish what they pay’ EITI provides Independent Verification & Reconciliation Oversight by a Multi-Stakeholder Group

  9. Property rights (ownership, auctioning, contracting) Operational phase (i.e.cost/profit oil, tax calculations) Fiscal revenues collection - Disclosure EITI Revenue’s distribution (federal-national/sub-natl) Final allocation of resources (quality of spending)

  10. Multi-stakeholder Governance Initiative (The curious coalition [*]) - Major international oil, gas, and mining companies and investors in those companies (including BP, ChevronTexaco, ExxonMobil and Shell) - Implementing Countries (including Ghana, Gabon,Cameroon, Nigeria, Azerbaijan, Kyrgyz Republic) - Civil society groups and networks – e.g. Publish What You Pay, Open Society / Revenue Watch, Transparency International - Donors: UK, Norway, France, Germany, Netherlands, Australia (*) ”Tackling the oil curse”, The Economist, Sep 23,2004

  11. Global standard, locally implemented The EITI Conference The EITI Board Supporters The Secretariat National EITI

  12. The EITI has been politically endorsed by many Governments and in many forums

  13. Global minimum standard- local standard and process - LIETI GEITI Azerbaijan EITI Norway www.eitransparency.org

  14. www.eitransparency.org

  15. Extract from the Gabon 2005 EITI Report (page 36) www.eitransparency.org

  16. 3. Does it work?

  17. Ngozi Okonjo–IwealaManaging Director, The World Bank • “[NEITI] has lifted Nigeria’s profile in the eyes of investors and helped lead to significant increases in FDI not only in the oil sector (about US$ 6 billion a year) but also in the other non-oil sectors US$3 billion”. • January, 2008

  18. Umaru Musa Yar’AduaPresident of Nigeria • “[NEITI] has recorded major achievements in its four years of operations. Among other accomplishments, it commissioned and popularized the first comprehensive audit of the petroleum sector for the period 1999 to 2004; it conducted studies that swelled government’s coffers by over $1 billion; and it catapulted our country into a leading position among countries implementing the EITI”. • January, 2008

  19. Cynthia CarrollCEO, Anglo American plc • If, for example, members of one of our host governments pocket the revenues which we generate, rather than spending them for the public good, it simply is not enough for us to deny all responsibility. Whilst we may not be technically responsible, many people will view us as complicit if we remain silent. • [EITI] is intended to guard against embezzlement, increase accountability and to lead to a wider debate about the use to which these time-limited revenues are put. It is not a silver bullet for dealing with all corruption but it is beginning to produce some worthwhile results. • 24 October 2007

  20. Why should I join? • Implementing countries: • Self-interest(reduce corruption; increased accountability; improved investment climate) • International recognition • Company, investor and international pressure

  21. Why should I join? • Companies: • Self-interest • (good with stable investment • Climate and good goverance) • Investor pressure • Country demand

  22. What now? • Implemenation • (Validation) • Mainstreaming(listings requirements, UN, accounting standards • Large emerging markets • Coordinated support

  23. Right to public information • The example of EITI, • of knowing what Governments earn from selling a countries’ natural resources • Carter Centre, 27 February 2008 • Jonas Moberg, Head of the EITI Secretariat • jmoberg@eitransparency.org • www.eitransparency.org

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