More than 150 decision-makers from government, commerce and civil society around the world are meeting in the Federal Ministry for Economic Affairs and Energy today for the 40th International Board Meeting of the Extractive Industries Transparency Initiative (EITI). The EITI is a voluntary global initiative for financial transparency and good governance in the extractive industries sector with a view to generating information and data about the sector in the respective member state which can then be fed into a public debate about the revenues from the sector and how they ought to be used. Germany has been a member of the EITI since 2016, and published its first EITI report in August 2017. The validation of Germany’s membership is scheduled for 2019.
, said: “As an EITI member, Germany has joined with more than 50 other EITI countries in the effort to make EITI a global standard. For a high-tech country like Germany, which is so dependent on imports of raw materials, transparency and good governance in the global extractive industries sector is of outstanding importance. We are therefore glad to see that the fact that we have joined is encouraging other OECD and EU countries to follow suit.”
Today’s EITI Board Meeting, which is devoted to the global fight against corruption, will be taking key decisions about the further development of the EITI standard, the membership of a number of EITI countries and the focus of the agenda for the 2019 Global Conference. The programme of the three-day event is rounded off by numerous side meetings between the international EITI Secretariat, civil society, the Federal Ministry for Economic Cooperation and Development and the Federal Ministry for Economic Affairs and Energy.