Right to public information

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• 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

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1. The problem
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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...
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Financial statementBoard paper 4-2, p. 11
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A Commodities Boom...
Source The Economist July 20th 2006
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A Resource Revenue Boom.
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2. Part of the solution?
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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
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Property rights (ownership, auctioning,
contracting)
Operational phase (i.e.cost/profit oil, tax
calculations)
Fiscal revenues collection - Disclosure
EITI
Revenues distribution (federal-national/sub-natl)
Final allocation of resources (quality of
spending)
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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
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Global standard, locally implemented
The EITI Conference
The EITI Board
Supporters
The Secretariat
National EITI
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The EITI has been politically endorsed by many
Governments and in many forums
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Global minimum standard- local standard and
process

• - LIETI
• GEITI
• Azerbaijan EITI
• Norway

www.eitransparency.org
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www.eitransparency.org
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Extract from the Gabon 2005 EITI Report (page 36)
www.eitransparency.org
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3. Does it work?
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Ngozi OkonjoIwealaManaging Director, The World
Bank

• NEITI has lifted Nigerias 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 US3 billion.
• January, 2008

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Umaru Musa YarAduaPresident 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 governments coffers by over
  1 billion and it catapulted our country into a
  leading position among countries implementing the
  EITI.
• January, 2008

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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

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Why should I join?

• Implementing countries
• Self-interest(reduce corruption increased
  accountability improved investment climate)
• International recognition
• Company, investor and international pressure

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Why should I join?

• Companies
• Self-interest
• (good with stable investment
• Climate and good goverance)
• Investor pressure
• Country demand

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

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• 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_at_eitransparency.org
• www.eitransparency.org