Presently 5 billion people live in countries rich in oil, gas and minerals. With good governance, the exploitation of these resources can generate large revenues to establish growth and reduce poverty. When governance is weak, however, it may result in or even cause poverty, corruption, and conflict. Increased legislation aimed at improved corporate financial transparency and the success of the Extractive Industry Transparency Initiative (EITI) are an indication of a growing sense of urgency in confronting long existent problems in natural resources rich countries.
Getting transparent with the extractives industry-the EITI