We are at a tipping point in moving from commitments to taking action on beneficial ownership transparency. Opening Extractives aims to accelerate progress at this critical juncture.
As countries around the world face the dual challenges of climate change and the economic impact of the COVID-19 pandemic, sustainable governance of natural resources is becoming essential. Funds are urgently required to address healthcare, economic and social needs arising from the pandemic. In resource-rich countries, the extractive sector makes a key contribution to tax revenue.
Opening Extractives will provide sustained, multi-year support to 8-10 partner countries to disclose the ownership of extractive companies. It will catalyse the use of this data to improve natural resource governance.
The programme combines political and technical engagement, to support countries implementing beneficial ownership reforms and to enable the use of the data by governments, civil society and companies.
Opening Extractives will be implemented jointly between the Extractive Industries Transparency Initiative (EITI) International Secretariat and Open Ownership. It builds on the collaboration between Open Ownership and the EITI over the last three years, which has delivered training, workshops and technical assistance to a broad range of countries.