PNG Extractive Industries Transparency Initiative

The PNG Extractive Industries Transparency Initiative (EITI) is a framework aimed at improving transparency and accountability in the mining and oil sectors of Papua New Guinea. It requires companies to publicly disclose what they pay in taxes and royalties, and for the government to reveal how these funds are used. By promoting openness, the initiative seeks to ensure that resource wealth benefits the country's citizens, helps reduce corruption, and fosters trust between the government, companies, and the public. Overall, it aims to ensure that the richness of natural resources leads to positive development outcomes for the nation.