Peru will not meet all the requirements needed to gain certification of the Extractive Industries Transparency Initiative, known as EITI, by its March 9th deadline. The EITI is a global standard that promotes revenue transparency for extractives industries (mining, oil and gas).
Peru has yet to start the Validation and Dissemination processes which explains why it won’t make the March deadline. These processes are scheduled to begin over the next few months. The goal of EITI Validation is to ensure that countries and companies do what they have said they would as part of the process and that their programme is aligned with EITI criteria and principles. Each country appoints a Validator to examine their key EITI documents which should reflect a country’s commitment to transparency and good governance in the extractives sector. The dissemination process involves making the EITI Report publicly available in a way that is: publicly accessible; comprehensive; and comprehensible.
The EITI-Peru process comprises a multi-stakeholder working group with representatives from industry, the State and civil society. Representatives from the latter group include the University of the Pacific (Universidad del Pacífico), the Catholic University (Universidad Católica), Bartolomé de Las Casas Andean Studies Centre, the Citizen’s Proposal Group (GPC – Grupo Propuesta Ciudadana) and NGO representative CooperAcción.
The only countries to have already received certification are Azerbaijan and Liberia. Peru is the only Latin American country amongst the other 26 candidate countries.
The EITI-Peru Secretariat is believed to have asked the EITI’s International Secretariat for an extension until the end of June.
EITI Workshop in Latin America
Last December, over 40 participants from eight Latin-American countries gathered in Lima to discuss measures to improve transparency in the extractives sector in the region.
The EITI website reports that representatives from governments, industry and civil society from Bolivia, Brazil, Chile, Colombia, Ecuador, Mexico, Peru and Venezuela discussed current transparency practices and possible ways to improve these in their respective countries’ extractive sectors.
The participants arrived at three main conclusions:
– Each country will progress at a different pace in advancing transparency;
– The EITI is a useful platform from which transparent practices could be strengthened;
– Latin America is a varied region, so what works in one country won’t necessarily work in another, consequently each country in the region requires a different strategy in promoting greater transparency in the extractives sector.