As the Philippines rejoins the Extractive Industries Transparency Initiative (EITI), mining stakeholders have lauded the move as it will assure accountability as the Marcos Administration amplifies the mining sector.
In a report by the Philippine Star, Alyansa Tigil Mina (ATM) said that the Philippines rejoining EITI would allow the country to sustain the momentum in promoting transparency and accountability in the mining sector.
ATM national coordinator Jaybee Garganera said that rejoining EITI is in the best interest of the country as mining stakeholders are addressing issues on illegal and destructive mining. He added that the EITI can help assure that mining taxes and revenues are “truthfully paid to the government” and would benefit the communities and the country.
EITI is a global coalition of companies, civil society, and governments that prescribes a standard for transparency and accountability in the mining, oil, and gas industries. Members from the mining industry are required to publicly disclose their data on taxes, royalties, and other payments made to the government and their host communities.
ATM said that EITI’s procedures and mechanisms play a crucial role in assuring the compliance of mining companies with their contractual and financial obligations, as well as the government’s capacity to effectively monitor the industry.
ATM is expecting that the mining industry would intensify its efforts for more mining companies to become EITI compliant. Garganera added that they are expecting the Department of Finance (DOF) and the Department of Natural Resources (DENR) to have a more distinct role in making EITI a relevant and meaningful platform where “mining-affected communities and environmental organizations can feel safe to engage.”
The Philippines rejoined the EITI just two months after the Duterte Administration withdrew from the coalition.
