New EITI Standard Emphasize Contract Transparency, Gender, Environment
The outgoing EITI Chair Fredrik Reinfeldt formally launched the 2019 EITI Standard on Monday at the opening of the 8th EITI Global Conference in Paris.
The 2019 Standard is one of the most significant achievements of the outgoing EITI Board. It has involved a huge consultative exercise and, as with previous versions, in line with the EITI way, it draws on practice in the implementing countries and is seen as a reaffirmation of the commitment of the 52 countries.
The new Standard focuses more on systematic disclosure of extractives data as a default rather than EITI reports. It also contains new requirements on contract transparency, the environment and gender.
The 2019 EITI Standard represents a further evolution in transparency with a focus on making disclosure and open data a routine part of government and corporate reporting, providing information to stakeholders in a timeframe and format that can support its widespread use in analysis and decision making.
It now requires contract transparency for new contracts from 2021 plus new requirements on environmental reporting and gender.