EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE IN PERU - EITI November 2015
The EITI (Extractive Industries Transparency Initiative) is an independent, international and voluntary initiative which seeks to strengthen the transparency with respect to contributions that extractive industries generate in the countries in which they operate, based on a partnership between the companies, the State and civil society. The EITI entails a process that makes public a report, called the National Reconciliation Report, which is a study conducted by an independent administrator, that verifies payments made to the Peruvian State by mining, oil and gas companies, against the amounts received by the State from these companies. This administrator is nominated by a multi-stakeholder group which in the Peru is called “Multi-Sectoral Standing Commission for Follow-up and Monitoring of the Transparency of Funds Received by the State from the Development of Extractive Industries of Mining and Hydrocarbon” (Supreme Decree Nº 028-2011-EM) Since 2005, when the Peruvian Government communicated its commitment to the EITI, the National Society of Mining, Petroleum and Energy (SNMPE), in fulfilment of its role as an advocate of responsible investment in these productive activities, has had an active participation in the development of this effort, besides being a continuous and permanent member of the Multi-Sectoral Standing Commission of EITI Peru.
SNMPE, respecting and safeguarding the principles of its own Code of Conduct that express the importance of transparency in business, works proactively within the MultiSectoral Standing Commission of EITI Peru. Currently, as a result of this joint effort, in closing 2015, Peru will be completing its V National Reconciliation Study and finalizing two Regional Reports: Piura and Moquegua. The latter are the result of the drive of the Commission to obtain information on the use of resources generated by extractive activities in these regions. It should be noted that in both cases Regional Commissions exist under the same scheme of the national EITI, and in which SNMPE also participates. Peru is the first COMPLIANT COUNTRY of EITI in America; accomplishment achieved on the basis of the efforts of all stakeholders.