Members Approved the EITI Report
The Extractive Industries Transparency Initiative (EITI) Report 2020 has been reviewed and approved by the Multi-Stakeholder Group (MSG). The meeting was held on 9 December under the chairmanship of Deputy Minister of Energy of Ukraine Yuliia Pidkomorna.
As noted during the presentation, EITI reports from companies are becoming more complete every year, but there is still not enough data in open sources.
The document highlights in detail the role of the extractive industry in the country’s economy. In particular, information is provided on rent payments, the contribution of extractive industries to the economy (GDP, employment, capital investment, exports), quasi-fiscal operations, budget programs and credit programs of state-owned enterprises. In addition, there is a separate appendix with financial statements of companies, data on beneficiaries and owners, auctions.
As Olena Pavlenko, President of DiXi Group and Deputy Chairman of the Multi-Stakeholder Group, noted during the discussion of the document, the report in this form can serve as an example for many other countries.
“The Ministry of Energy of Ukraine took over the funding from the state budget and this is a good example for other EITI members,” emphasized Olena Pavlenko.
Olesia Nekhoroshko, Head of the EITI National Secretariat in Ukraine, noted that this year, for the first time, data was collected through the EITI electronic platform, and this report was prepared in the shortest possible time. “A two-year break is acceptable, but we have done everything to ensure that Ukraine receives fresh data, and the public and journalists can already use it,” said Olesia Nekhoroshko.
The EITI Report has been approved by all MSG members and will be posted soon on the page of the Ministry of Energy, on the website of EITI Ukraine, as well as on open data portal, where documents for previous periods are already available.
The Multi-Stakeholder Group was set up to implement the Extractive Industries Transparency Initiative. DiXi Group Think Tank is a member and one of the initiators of MSG.
EITI is an independent and internationally voluntarily supported standard, which is implemented in more than 50 countries, including Ukraine. In order to implement this standard and to comply with the EU-Ukraine Association Agreement in terms of reporting of extractive companies (Directive 2013/34/EU), the Law “On Ensuring Transparency in Extractive Industries” was adopted in 2018.
As a reminder, the Verkhovna Rada is to consider draft law No. 3790, which is designed to promote greater transparency in the industry and the implementation of anti-corruption approaches, including through the requirements to disclose contracts in the field of extraction.