"EITI business guide: How companies can support implementation", Dave Prescott, 2008

The Extractive Industries Transparency Initiative (EITI) is a process by which government revenues generated by extractive industries...are published in independently verified reports. These reports are based on information about payments made by companies, and revenues received by governments. The objective of publishing these reports is to improve transparency in countries rich in oil, gas and mineral resources. The EITI is a multi-stakeholder initiative. although it is government-led, the private sector and civil society organisations both play significant roles in how the initiative is implemented. The EITI, which was launched in 2002, represents a globally developed initiative that promotes revenue transparency at a local level. (For general information on the EITI, see www.eitransparency.org)

The EITI helps companies by providing a means for engagement with stakeholders...and by promoting a more transparent business environment which...can assist in minimising corruption in extractive industries. A government’s commitment to EITI implementation sends a strong signal to the investment community about the country’s intentions to improve transparency and the business climate. In turn, this may lead to an inflow of additional investments that can help improve the economic and social climate in the country.