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ARTICLE · 02 AUGUST 2023

EITI Launches Updated 2023 EITI Standard

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On June 13, 2023, the Extractive Industries Transparency Initiative (EITI) launched the latest revisions to its global standards regarding good governance of oil, gas, and mineral resources (the EITI Standard).

CanadaCorporate/Commercial Law
David Overall
David Overall
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On June 13, 2023, the Extractive Industries Transparency Initiative (EITI) launched the latest revisions to its global standards regarding good governance of oil, gas, and mineral resources (the EITI Standard). These revisions strengthen and clarify existing requirements for participating countries and corporate supporters, identifying areas for enhanced disclosure such as anti-corruption and transparency measures and, for the first time, information regarding commitments, policies, and plans for the energy transition.

Background

Since its formation in 2003, EITI has worked to enhance public and corporate governance across the global extractive sector and generated data to inform policymaking and multi-stakeholder dialogue. To date over 50 countries have committed to strengthening transparency and accountability of their extractive sector by implementing the EITI Standard.

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