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Companies take steps to improve corporate accountability

Update to the 2023 assessment of EITI supporting companies

Nearly half of the EITI’s supporting companies have taken steps to improve their corporate transparency and accountability practices, following the EITI’s assessment of companies last year.

Since the assessment, which evaluated 62 companies on nine parameters – covering disclosure of tax payments, contracts, beneficial owners, anti-corruption policies, due diligence practices and more – nearly 30 companies implemented recommendations to adhere to the Expectations for EITI supporting companies.

Several companies have since published statements supporting beneficial ownership disclosure, including bp, ExxonMobil, TotalEnergies, Tullow and Woodside Energy. Others committed to follow suit, including Goldfields, Gunvor, Ivanhoe Mines, Shell and Vale. Many are also working to integrate beneficial ownership data into their due diligence processes.

Companies buying oil, gas or minerals from governments in EITI countries are also considering reporting their payments and purchase volumes, including bp and Eni. Others, such as ExxonMobil and Shell, have cited commercial sensitivity as a barrier for public disclosure. Almost half of the USD 3 trillion revenues disclosed by EITI countries come from the sale of the state’s oil, gas or minerals to trading companies.

The EITI requested 47 companies to specify actions to fully meet the Expectations. Of these, 27 responded, with many detailing strategies to enhance tax and payment disclosures in non-EITI countries and to strengthen anti-corruption policies. The next comprehensive assessment is scheduled for fall 2025, tracking progress since the 2023 evaluation.

Company responses can be downloaded here (see yellow columns marked “Company response”).