the eiti standard:
how does eiti work?
I. Principles
The following EITI Principles provide the cornerstone of the initiative:
• We share a belief that the prudent use of natural resource wealth should be an important
engine for sustainable economic growth that contributes to sustainable development and
poverty reduction, but if not managed properly, can create negative economic and social
impacts.
• We affirm that management of natural resource wealth for the benefit of a country’s citizens is in the domain of sovereign governments to be exercised in the interests of their
national development.
• We recognize that the benefits of resource extraction occur as revenue streams over many
years and can be highly price dependent.
• We recognize that a public understanding of government revenues and expenditure over
time could help public debate and inform choice of appropriate and realistic options for
sustainable development.
• We underline the importance of transparency by governments and companies in the extractive industries and the need to enhance public financial management and