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Working together - companies. 9/ Miraculously, Three crew members found alive after oil vessel fire incident.—- SEPCOL; Emir of Jama'are is dead; After fire incident, Egbin power plant resumes operations, generates 220MW Maikanti Kachalla Baru is an indigene of Bauchi State. EITI Supporting Company. The Board has 20 members, including an independent chair. Published. A recent example is Qatar Petroleum, which became an EITI . Contact: Please enter the name and email (optional) of EITI contact in your company "NNPC joining the EITI as a supporting company is a major inflection point in the quest for transparency - for the company, for Nigeria's oil and gas sector, and for the country as a whole. Globally, and in 50+ implementing countries, the EITI is led by a coalition of government, companies and civil society. support of EITI with meaningful support. Published 29.04.2016, 05:32. Image: NASA. Adio noted that becoming an EITI supporting company could help state-owned companies make progress on the journey to transparency "A recent example is Qatar Petroleum, which has been an EITI supporting company since October 2019 and has now published its annual and sustainability plans for the first time," he added. Helen Clark, welcomed the company's commitment to the EITI. We believe that the EITI's multi-stakeholder approach (which includes governments, non-governmental organisations (NGOs), regulators, the public and companies) is the most effective way to develop transparency standards associated with government revenues from economic activities in the extractive industries value chain. Many of these companies are EITI Supporting Companies and are expected to voluntarily comply with the U.S. implementation. It is a coalition of governments, companies, civil society . Project-level payments-to-governments disclosure has been central to EITI since its inception. Such participation is voluntary For the EITI to make further progress on advancing transparency globally, the EITI Standard must have teeth. . QP is the first SOE from the MENA region to join the EITI as a supporting company. "NNPC joining the EITI as a supporting company is a major inflection point in the quest for transparency - for the company, for Nigeria's oil and gas sector, and for the country as a whole. Vancouver, British Columbia, April 22, 2021 - Lucky Minerals Inc. (TSXV:LKY, OTC:LKMNF, FRA:LKY) (" Lucky " or the " Company ") is pleased to announce it has joined the Extractive Industries Transparency Initiative ("EITI"). As a guiding principle, supporting companies are expected to publicly disclose taxes and payments. EITI to support NNPC in financial reporting. Does your company agree that Expectation 1 should mandate meaningful support, like requiring that . Lucky Minerals Joins Eiti-Ecuador As Supporting Company. VANCOUVER, BC / ACCESSWIRE / April 22, 2021 / Lucky Minerals Inc. (TSXV:LKY)(OTC PINK:LKMNF)(FRA:LKY) ("Lucky" or the "Company") is pleased to announce it has joined the Extractive Industries Transparency Initiative ("EITI").The EITI is the global standard for the good governance of oil, gas and mineral resources throughout the world and it promotes the open and accountable . It requires the disclosure of information by governments and companies at all stages of an oil or mining project. The EITI has won the support of over 80 global investment The Board documents reference superficial concerns such as updating EITI logos on company websites as a proxy for company support of the organization. Please return this form to: secretariat@eiti.org Date:21st February 2017 EITI Supporting Company Form Company name: Please enter the name of your company AMG Advanced Metallurgical Group N.V. So, I am very looking forward to welcoming the NNPC as a supporting company joining our 60 other companies in our expanding global network of companies in the EITI. These disclosures should be required for EITI Supporting Companies in all jurisdictions - without any loopholes or exceptions - and meaningful support for the EITI requires that lobbying against the EITI Standard should be prohibited. Oxfam America has publicly stated that "accountability for EITI corporate members is essential to the continued integrity of the EITI Standard," particularly in light of controversies underlying past civil society complaints implicating EITI Board Members and in light of the gaps in payment disclosure by some EITI Supporting Companies. And unknown to many, becoming an EITI supporting company can help state-owned companies make progress on the journey to transparency. Large, multinational companies have been engaged in EITI in other countries. However, Oxfam is disappointed that the vast majority of the companies failed to provide any substantive answers to the specific questions we asked in the letter, even with an extended response . Helen Clark, welcomed the company's commitment to the EITI. Re : Open letter in support of meaningful Company Expectations for EITI Supporting Companies . Thirteen Lundin Group companies are listed in Canada and meet the transparency reporting requirements of the Government of Canada's Extractive Sector Transparency Measures Act (ESTMA). The EITI is the global standard for the good governance of oil, gas and mineral resources. The global Extractive Industries Transparency Initiatives (EITI) on Monday commended the improvement in transparency and accountability by the. Given your company's status as an EITI Board Member and/or Supporting Company, we are reaching out to understand your position on EITI Company Expectations ahead of the February 2022 EITI Board meeting. The respective constituencies agree amongst themselves how they are represented on the Board. Nigeria's national oil company, the Nigerian National Petroleum Corporation (NNPC), has become an EITI supporting company, joining a group of over 65 extractives companies, state-owned enterprises (SOEs), commodity traders, financial institutions and industry partners who commit to observing the EITI's supporting company expectations. SUPPORTING EITI IMPLEMENTATION THROUGH CAPACITY BUILDING 2 1. EITI Support × Dr. Maikanti Kachalla Baru GMD, NNPC. Chair @HelenClarkNZ made clear not only that companies must implement the Expectations and pledge support for #EITI, but also that "Actions that are contrary to that support, such as *LOBBYING*, would not be consistent with meeting those expectations."THAT PART! The Secretariat is funded by supporting governments and companies. Many Australian companies, or companies operating in Australia, are listed as EITI supporting companies and are already participating in EITI reporting overseas. . Operations of the Nigerian Gas Company, Warri where he was responsible for the smooth operation of all the facilities in the Nigerian Gas Company ensuring uninterrupted gas supply to customers such as NEPA. Companies are at the core of the EITI process and fulfil key roles important for our success. Qatar Petroleum has officially joined the Extractive Industries Transparency Initiative (EITI) as a supporting company, thus becoming the first national oil company in the Middle East to join this multi-stakeholder organisation that promotes open and accountable management of oil, gas and mineral resources. The Extractive Industries Transparency Initiative (EITI) is a global standard to promote the open and accountable management of oil, gas and mineral resources. The International Secretariat will work closely with the senior individual appointed by the government to lead on EITI implementation in order to clarify any outstanding issues. EITI supporting companies recognise that increased transparency can promote understanding of natural resource management, strengthen public and corporate governance, reduce corruption, and provide data to inform greater transparency and accountability in the oil, gas and mining sectors. By. Joining the EITI as a supporting company is a welcome step in the NNPC's journey toward achieving greater transparency. Encourage companies to embrace disclosure. Large, multinational companies have been engaged in EITI in other countries. Joining the EITI as a supporting company is a welcome . Joining the EITI as a supporting company is a welcome step in the NNPC's journey toward achieving greater transparency. "Becoming an EITI supporting company aligns with NNPC's corporate vision and principles of transparency, accountability and performance excellence. Grasberg copper and gold mine, Papua, Indonesia. financial and operations reports and financial statements to be in line with the EITI Standard and Expectations for EITI supporting companies. Based on this, and any other available information, the EITI VANCOUVER, BC / ACCESSWIRE / April 22, 2021 /Lucky Minerals Inc.(TSXV:LKY)(OTC PINK:LKMNF)(FRA:LKY) ("Lucky" or the "Company") is pleased to announce it has joined the Extractive Industries Transparency Initiative ("EITI").The EITI is the global standard for the good governance of oil, gas and mineral resources throughout the world and it promotes the open and accountable management of a . For this reason, Australia's resources sector is supportive of the Extractive Industries Transparency Initiative (EITI) and advocates for its implementation. Commenting, EITI Board Chair, Hon. Thirteen Lundin Group companies are listed in Canada and meet the transparency reporting requirements of the Government of Canada's Extractive Sector Transparency Measures Act (ESTMA). a) EITI implementation requires a sustained commitment to multi-stakeholder dialogue . Specifically, the expectations should state that all Supporting Companies will voice their support for laws, regulations, and policies that promote Supporting companies, supporting countries and civil society organisations have an important role in EITI's governing structure and have seats on the EITI Board. TORONTO, CANADA - October 3, 2011 - Centerra Gold Inc. (TSX: CG) is pleased to announce it has become a Supporting Company of the Extractive Industries Transparency Initiative ("EITI").The EITI is an international non-profit organization launched in 2002 at the World Summit for Sustainable Development in South Africa. will exert pressure on companies to comply. As a result, PWYP-US expresses a Vote of No Confidence in the Board — the coalition will suspend its participation as a member in the EITI civil society constituency until the EITI commits to policies and procedures that hold supporting companies accountable. civil society groups, supporting companies, supporting organisations and investors. Commenting, EITI Board Chair, Hon. EITI Board Chair, Helen Clark, Who welcomed the company's commitment to the EITI said: "NNPC plays a vital role in Nigeria's economy. April 22, 2021 MotherlodeTV. "NNPC plays a vital role in Nigeria's economy. Helen Clark, welcomed the company's commitment to the EITI. . | We believe that a country's natural resources belong to its citizens. • The EITI should require all government and corporate board members, as well as EITI Supporting Companies, to make public their positions on contract disclosure as a minimum requirement for participation in the EITI. The Board has 20 members, including an independent chair. PWYP-US said the U.S. companies supporting EITI were getting the reputational benefit of EITI participation without meeting the basic expectations for membership. A number of companies have disclosed their contracts in countries where it is not required across the board, including EITI supporting companies like BP in Azerbaijan, Kosmos in Oxfam thanks the 22 out of 29 companies that responded to Oxfam's open letter for providing a response. The EITI is the global standard for the good governance of . Supporting companies. The Extractive Industries Transparency Initiative (EITI) is a global initiative established in 2003 to promote and support improved governance in resource-rich countries through the full publication and verification of company payments and government revenues from oil, gas, and mining. Extractive Industries Transparency Initiative (EITI) is an international standard that promotes openness around the management of oil, gas, and mineral resources. Of the 61 active EITI Supporting Companies, 23% are failing to publicly disclose taxes and payments, as per Expectation 2, an expectation core to the EITI's mandate and one that has been central to the development of the EITI almost two decades ago. The top 50 biggestpanies in the world. (List and attach supporting documentation as appropriate) 4 REQUIREMENT 2 COMMIT TO WORKING WITH CIVIL SOCIETY AND COMPANIES ON IMPLEMENTATION OF EITI The government is required to commit to work with civil society and companies on implementation of the EITI. January 10, 2022 . Companies can advance disclosure, but many choose not to. Oxfam America . "NNPC joining the EITI as a supporting company is a major inflection point in the quest for transparency - for the company, for Nigeria's oil and gas sector, and for the country as a whole. The respective constituencies agree amongst themselves how they are represented on the Board. SAN FRANCISCO, August 18, (THEWILL) - The Nigerian National Petroleum Corporation (NNPC) has become an Extractive Industries Transparency Initiative (EITI) partner company, joining a group of over 65 extractives companies, state-owned enterprises (SOEs), commodity traders, financial institutions and industry partners who commit to observing the EITI's supporting company expectations. April 22, 2021 . Past the Tipping Point Contract Disclosure within EITI 6. The EITI Board oversees the activities of the EITI and has representation from governments (implementing and supporting), companies and civil society. Kjerstin Andreasen. LUCKY MINERALS JOINS EITI-ECUADOR AS SUPPORTING COMPANY. Lucky Minerals Inc. ( TSXV:LKY ) (OTC PINK:LKMNF) (FRA:LKY) (" Lucky " or the " Company ") is pleased to announce it has joined the Extractive Industries Transparency Initiative ("EITI"). companies are committed to supporting . Joining the EITI as a supporting company is a welcome step in the NNPC's journey toward achieving greater transparency. The funding of the international management of the EITI reflects its multi-stakeholder support. Oxfam invited 29 EITI Supporting Companies to respond to the following questions: What minimum threshold of compliance with Company Expectations should be required for a company to be listed with the distinction of being an EITI Supporting Company? Data used in the assessment of adherence to the Expectations for EITI supporting companies. PWYP-US said the U.S. companies supporting EITI were getting the reputational benefit of EITI participation without meeting the basic expectations for membership. To selected EITI Board Members and US-listed EITI Supporting Companies . support and actively participate in the EITI process - through their country operations in implementing countries, international-level commitments and industry associations. Over 90 major companies involved in oil, gas, mining, and commodity trading, and institutional investors with total assets under management of more than USD 19 trillion support the EITI at the international level. In order for EITI to maintain its credibility, it must update its Company Expectations to establish clear and timely sanctions for all supporting companies, including EITI Board members, who fail to meet the expectations. The corporation, it would be noted, has become an EITI partner company, joining a group of over 65 extractives companies, state-owned enterprises (SOEs), commodity traders, financial institutions and industry partners who commit to observing the EITI's supporting company expectations. A recent example is Qatar Petroleum, which has been an EITI supporting company . Supporting companies publicly endorse the EITI and contribute to covering the cost of the international secretariat of the EITI. will exert pressure on companies to comply. The EITI explained that all supporting companies are expected to publicly declare support for the EITI Principles and by promoting transparency throughout the extractive industries, help public . the EITI. All EITI supporting companies are expected to: Publicly declare support for the EITI Principles and, by promoting transparency throughout the extractive industries, help public debate and provide opportunities for sustainable development. EITI (Extractive Industries Transparency Initiative) | 8,309 followers on LinkedIn. Included amongst these delinquent companies are US oil majors Exxon Mobil, Chevron, and . The aggregate results from the assessment were presented to the EITI Board at the June 2021 Board meeting in Board Paper 50-4 . The EITI is the global standard for the good . Becoming an EITI supporting company can help state-owned companies make progress on the journey to transparency. Our mission is to promote understanding of natural resource management, strengthen public and corporate governance and provide the data to inform . Becoming an EITI supporting company is a means for state-owned enterprises (SOEs) to show their commitment to transparency, and for the EITI to advance its mission outside implementing countries. DOHA: Qatar Petroleum has officially joined the Extractive Industries Transparency Initiative (EITI) as a supporting company, thus becoming the first national oil company in the Middle East to . In 2015, almost USD 5 million was spent on implementation, outreach and board meeting activities with related travel and translation costs, in addition to the salaries and . Companies contribute to the international management of the EITI and advance its mission, observing the Expectations for EITI supporting companies. Companies should be, at minimum, encouraged to disclose contracts where possible. Over 90 companies have become EITI supporting companies, meaning they have publicly declared support for EITI and, in some cases, contribute funding to the management of the initiative9. Despite gold losing sight mining supporting companies As of January 2021, 68 oil, gas and mining companies, financial institutions and commodity traders support the EITI. In the letter, Oxfam highlights gaps in the existing . The EITI Board decides on the priorities for the organisation and evaluates countries' performance in reaching the requirements of the EITI Standard. In the absence of this, and in light of the ongoing circumstances outlined above, we recommend strongly that these companies be . These EITI Board Members and Supporting Companies have made repeated public statements of support for transparency and the principles and objectives of EITI, and will play a leading role in Lusaka in the critical negotiations on the future of the EITI and its reporting standard through the formal EITI Strategy Review Process. Although EITI reporting only requested information related to material companies, all companies registered in Albania were requested to submit data on beneficial ownership to the corporate registry by 30 June 2021, or within 30 days of incorporation. OXFAM AMERICA 1101 17th Street NW, Suite 1300 Washington, DC 20036-4710, USA +1 (292) 496 1180 www.oxfamamerica.org . "The Extractive Industries Transparency Initiative (EITI) has developed a voluntary framework under which governments publicly disclose their revenues from oil, gas, and mining assets, and companies make parallel disclosures regarding payments that they are making to obtain access to publicly owned resources. PWYP-US calls on others to follow suit. Commenting, EITI Board Chair, Hon. 60 of the world's largest oil, gas and mining companies . "NNPC plays a vital role in Nigeria's economy. SUPPORTING EITI IMPLEMENTATION THROUGH CAPACITY BUILDING Overview The Extractive Industries Transparency initiative (EITI) is a global standard that promotes revenue transparency in resource rich countries by requesting companies in the oil, gas and mining sectors to The EITI International Secretariat's first-time assessment of adherence to the Expectations for EITI supporting companies began in March 2021 and was completed in May 2021. ACCESSWIRE. Many of these companies are EITI Supporting Companies and are expected to voluntarily comply with the U.S. implementation. "NNPC joining the EITI as a supporting company is a major inflection point in the quest for transparency - for the company, for Nigeria's oil and gas sector, and for the country as a whole.

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