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EITI webinar: Hidden but with a high cost – What is at stake with supplier transparency?

EITI webinar: Hidden but with a high cost – What is at stake with supplier transparency?

The LPA took part in a webinar organised by the EITI Secretariat, which provided a platform to share good practice examples in disclosing and using supplier information. Building on the latest research by NRGI on the significance of the extractive industry suppliers’ oversight, the objective of the webinar was to raise awareness among governments, extractive companies and civil society organisations on the importance of publishing subcontractors data so to reduce corruption risks and promote trust and accountability.

Mr. Walid Nasr Acting Chairman of the LPA and Head of the Strategic Planning Unit described the measures the LPA has taken to make suppliers more transparent starting with an overview of the legislative framework and provisions related to subcontracting, procurement, beneficial ownership and disclosure requirements. Nasr also talked about the practices implemented on disclosures and the impacts of such practices in building and strengthening credibility and trust, enhancing the sector’s public support and promoting engagement and accountability.

The webinar brought together senior officials from NRGI, the UK Oil and Gas Authority, Endeavour Mining and the EITI International Secretariat and ended with policy recommendations.

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