EITI EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE

The Extractive Industries Transparency Initiative (EITI) is a global standard founded in 2003 to promote the open and accountable management of natural resources. The standard seeks to address key governance issues in oil gas and mining sectors. In each of the implementing countries EITI is supported by a multi stakeholder group (MSG) that comprises of representatives from government companies and civil society.The initiative includes more than 50 countries implementing the EITI. Of Finland's partner countries Ukraine Ethiopia Mozambique Zambia and Tanzania and of the Central Asian countries Kazakhstan Kyrgyzstan and Tajikistan are members of the EITI. Companies consider that they gain a reputation and all Member companies have published their taxes and fees in countries that implement EITI standards.Compliance with the standard global recapping and reporting and the development of the initiative are overseen by the EITI Board. The Board has 20 members representing four constituencies 1) Implementing Countries 2) Supporting Countries 3) Civil Society Organizations 4) Industry and Investment Companies.The International Secretariat of the EITI which is based in Oslo Norway supports countries in implementing the standard and serves the EITI Board. Its role specifically includes outreach and advocacy communicating and sharing lessons learned with stakeholders providing technical advice oversight of the validation process and highlighting results in countries. The Secretariat organizes the Board meetings that take place three times a year. It also organizes the EITI Global Conference which takes place every two to three years together with supporting and implementing countries.Finland joined EITI as a Supporting Country in 2009 and by 2023 had funded the EITI Secretariat by 2 07 million euros. Additionally 800 000 euros was channeled to the World Bank EITI Multi Donor Trust Fund (MDTF) 2009 2011 and 2 million euros was channeled to World Bank Extractives Global Programmatic Support Multi Donor Trust Fund (EGPS) 2014 2019. Finland's support to the EITI International Secretariat in 2023 was 320 000 euros. Support for the years 2024 ja 2025 will be 320 000 euros per year.Finland belongs to EITI sub constituency together with other Nordic countries (Denmark Norway Sweden) UK and Belgium. Currently Belgium is the Board member and Finland the alternate member.