The EITI is a global standard that promotes transparency of revenues generated from the extraction and production of mineral resources - including oil and gas - in the countries holding those resources.
Extraction can bring about economic growth and social development in the countries where extraction takes place. However, when poorly managed, it can lead to corruption and conflict.
For this reason, it is necessary to adopt a methodology of control.
The methodology used is both robust and flexible, and it enables the payments of the operating companies and the public revenues of the country holding the resources to be monitored and reconciled.
The entire process is overseen by participants from governments, business and civil society.
The EITI principles, agreed at the Lancaster House Conference in June 2003, are the cornerstone of the initiative, which is outlined below.