This paper aims to provide the EITI International Board with updates on country progress and challenges encountered in contract disclosure in EITI implementing countries. It also discusses ambiguities raised by constituencies in the interpretation of Requirement 2.4 and provides considerations on how to assess Requirement 2.4 in Validation. This recommendations was shared with the Board for decision by circular and approved as of 11 September 2020.
As of 1 January 2020, the EITI Standard requires that implementing countries request, and companies disclose, beneficial ownership information (Requirement 2.5). This requirement applies to companies that apply for or hold participating interests in a country’s extractive sector and requires disclosure of their beneficial owners, the level of ownership and details about how ownership or control is exerted. To achieve this Standard in most implementing countries,