Taras Tkachuk: Disclosure of Information in Extractive Industries will Get Ukraine Closer to the EU | DiXi Group
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27.04.2016

Taras Tkachuk: Disclosure of Information in Extractive Industries will Get Ukraine Closer to the EU

 

The adoption of the Law of Ukraine “On Disclosure of Information in Extractive Industries” is a necessary step towards acceding to the European Union. This is what Mr. Taras Tkachuk, DiXi Group’s analyst, said in his interview for the Ukrainian Energy.

Introduction of transparency standards is one of the requirement set by Directive 2013/34/EU on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings and Directive 2013/43/EU on compulsory audit of annual financial statements and consolidated financial statements for which the Cabinet of Ministers of Ukraine approved respective plans for implementation. Also, in September 2009, the Cabinet of Ministers of Ukraine approved the Resolution No. 1098 that confirmed its intention to introduce the EITI standards.

“In 2015, the first Ukrainian EITI Report was published which, on the one hand, facilitated approximation of Ukraine to EU standards of transparency in extractive industries, and on the other hand, showed the need to approve such standards legislatively.

The work on the report revealed that 67.5% of extractive companies are reluctant to disclose information and simply ignore Ukraine’s efforts to introduce European quality standards”, the expert said.

In the opinion of Mr. Tkachuk, annual reports of the largest companies in the industry (Naftogaz of Ukraine NJSC and DTEK) demonstrated almost the same compliance as such global giants as Statoil and Total, however, many extractive companies in Ukraine are reluctant to adhere to modern European principles.

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https://ksep.energy/en/

Independent energy educational center

http://eiti.org.ua/

National website of Extractive Industries Transparensy Initiative in Ukraine 

http://ua-energy.org/

Information and analitical website “Ukrainian Energy UA-Energy.org” is unique   platform to inform

Our platforms

https://ksep.energy/en/

Independent energy educational center

http://eiti.org.ua/

National website of Extractive Industries Transparensy Initiative in Ukraine 

http://ua-energy.org/

Information and analitical website “Ukrainian Energy UA-Energy.org” is unique   platform to inform