For the extractive sector, the EITI (Extractive Industries Transparency Initiative), signed by more than 40 Countries, is the reference model with regard to transparency and good governance. The aim of the EITI is to promote the transparency of payments and of the entire value chain in the Oil&Gas and mineral resources sectors in the producer Countries. The publication of payments to governments of producer Countries for the use of these resources contributes to strengthening reliability and good government in producer Countries, while at the same time promoting the adoption of approaches involving a sustainable use of resources, benefiting the local population. Between 2009 and 2013 the number of Countries that have fully implemented the initiative (“compliant” Countries) has increased from 2 to 25 and the total amount of payments to producer Countries published has increased five-fold, from 200 billion dollars to 1 trillion dollars.
Table: Total amount of payments to producer Countries
In 2013 eni took action to extend the use of the new Standard to all of its subsidiaries in the EITI Countries.
For an extractive company, the fight against corruption and the contribution to transparency also involves a commitment to provide evidence of the payments made to producer Countries for extractive activities.
In 2013 the Extractive Industries Transparency Initiative (EITI), an international initiative in which eni has participated since 2005, adopted new rules in order to improve the quality of information disclosed and to make the initiative the basis for wider reform in the producer Countries. eni has taken action to spread use of the new Standard to all of its subsidiaries in the EITI Countries.
In 2013 eni was among the companies that signed the Memorandum of Understanding launching the implementation of EITI in Trinidad & Tobago.
In October 2013 the first report on the payments derived from the extractive industries in the Country was published. New reports on payments were also published in Norway, Republic of the Congo, Democratic Republic of the Congo, Indonesia and Iraq. In Timor Leste eni participated in the work of the Multistakeholder Working Group, in particular on implementation of the new requirements of the EITI Standard.