Monday, August 27, 2012

Extractive Industries Transparency Initiative Committee Nominations

On August 20, the Department of the Interior (DOI) announced it was extending the deadline by 30 days to receive nominations for membership on a national committee to guide and oversee U.S. implementation of the Extractive Industries Transparency Initiative (USEITI). The initiative is a voluntary, global effort designed to increase transparency, strengthen the accountability of natural resource revenues, and build public trust for the governance of these vital activities.

The committee is being convened under the Federal Advisory Committee Act. Members will include non-federal representatives from the extractive industry and the public, and may ultimately include representatives from state, local, and/or tribal governments. USEITI commits participating countries to disclose to an independent reconciler certain revenues obtained for oil, gas and mining development. It also commits companies to make parallel disclosures regarding payments to the government. The reconciled figures are then made public. The design of each nation's EITI framework is country-specific and developed jointly by a multi-stakeholder group comprised of members of the public, government, and industry through a multi-year, consensus-based process. The committee will serve as the initial multi-stakeholder group for USEITI implementation.

Nominations for membership on the committee must now be received by September 26, 2012.

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