Robust beneficial ownership disclosure is a priority area under the Extractive Industries Transparency Initiative (EITI), which implements the global standard to promote the open and accountable management of oil, gas and mineral resources.
Beneficial ownership requirements in the 2019 EITI Standard promote access to quality beneficial ownership data to strengthen accountability in the extractive sector.
Beneficial ownership information can improve governance of natural resource revenues, support business, curtail corruption and illicit financial flows, and support asset recovery.8 Beneficial ownership transparency reform in the extractives has significant support from the private sector.
EITI supporting companies uphold the EITI Standard through reporting in EITI implementing countries where they operate, and agree to meet the Expectations for EITI supporting companies, including publicly declaring and publishing support for beneficial ownership transparency and publicly disclosing beneficial owners in line with the EITI Standard.
Read the full policy brief here: Shining a light on company ownership Policy Brief.pdf (eiti.org)