THE OECD will host the 5th EITI (Extractive Industries Transparency Initiative) meet in Paris next week. At this Conference, Ms Clare Short, former UK Minister for International Development, will succeed Mr Peter Eigen, founder of Transparency International, as the Chair of the EITI Board.

At the Meet, leaders from governments, companies and civil society organisations will discuss how the EITI has led to improvements in their countries and consider ways to shape the future of the Initiative. Government revenues from natural resources have often been criticised for being badly managed, veiled in secrecy and fraught with corruption. Over the past decade, this picture has been changing. A coalition of 50 countries and 50 of the largest oil, gas and mining companies is now working together with civil society to improve transparency in the management of natural resources.

In 33 resource-rich countries, companies and governments have committed to publish what they pay and receive, through implementing the global standard developed by the Extractive Industries Transparency Initiative. Citizens in these countries can now find out how much their governments receive from their natural resources, and hold them to account.