Australia is a supporting country to the Extractive Industries Transparency Initiative (EITI), a global standard for good governance of oil, gas and mineral resources.
A multi-stakeholder group (comprising government, industry and civil society) completed an EITI pilot from 2011 to 2014. They tested EITI rules and principles against Australian conditions.
Since the pilot, the standard has been revised. It now includes requirements not considered in the pilot.
KPMG undertook a gap analysis between Australia’s EITI pilot and the 2016 version of the EITI standard.
This independent analysis identifies 8 areas that may pose challenges to potential implementation in Australia.
The 2015 multi-stakeholder group report looked into the EITI and how to apply it in Australia based on the outcomes of the pilot. It recommended Australia implement the adapted EITI model.