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Oil, gas and mining projects often yield large amounts of public revenue and can have a material impact on host communities. Transparency on the terms governing these projects can help ensure that natural resources are managed fairly and in the interest of citizens.
The latest “Transparency Matters” webinar demonstrated widespread support for contract disclosure. Moderated by Lisa Sachs, Director of the Columbia Center on Sustainable Investment, the event explored the important role contract transparency can play to strengthen the management of vital public revenues.
Contract publication
All 55 countries that implement the EITI Standard will be required to publish new and amended extractive contracts from 1 January 2021 onwards. “This deadline represents a key milestone,” said Don Hubert, President of Resources for Development Consulting. “Contract transparency generates good governance – if people know the terms will be in the public domain, they will be more c