Philippines achieves candidacy status with EITI
Australian Ambassador to the Philippines, Bill Tweddell, today congratulated the Philippines on achieving candidacy status with the Extractive Industries Transparency Initiative (EITI) which works to increase transparency of payments made in the oil, gas and mining industries.
“I congratulate the Philippines for their hard work in applying to join the EITI. This shows a welcome commitment by the Philippines to improve transparency in its mining sector,” Ambassador Tweddell said.
“By achieving EITI candidacy the Philippines can build confidence amongst communities and businesses in the extractive industries. This is a positive step towards developing the mining sector in the Philippines in an open and transparent way.”
“I’m proud that Australia was able to support the Philippines in its application to join EITI.”
Australia supported the Philippine Government’s candidature for the EITI as part of efforts to improve transparency and governance within the Philippines mining sector. The Philippines EITI Multi-Stakeholder Group, which the Australian Agency for International Development (AusAID) helped to establish, has been tasked to oversee the implementation of the global EITI transparency standards in the Philippines.
Australia contributed over Php1 million (A$25,000) to the Filipino non-government organisation Bantay Kita to facilitate community and civil society in consultations on the Philippines’ candidacy for the EITI.
Australia also supported the participation of a high level delegation from the Philippines in the recent Mining for Development and EITI conferences.
As an EITI candidate country, the Philippines must now disclose all payments made in its mining sector and meet a series of strict requirements in the EITI standard in order to become fully EITI compliant.