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Article

30 Apr 2008

Author:
Ethical Corporation

EITI – Extracting transparency

[S]ince [2005]...just three of the the 37 oil, gas and mining companies that have endorsed EITI have complied with the requirements to report on steps to meet its transparency requirements. These three companies are Shell, Chevron and StatoilHydro. Radhika Sarin, international coordinator at Publish What You Pay, a global coalition of NGOs campaigning for transparency in the extractive industries, says the problem is that there is too much onus on the countries involved in the scheme...The...EITI board is beginning to flex its muscles. If countries do not become validated within two years they risk losing their status. So far Chad, Trinidad and Tobago, and Bolivia have been disqualified.

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