When the CARIBBEAN SUB REGIONAL CIVIL SOCIETY FORUM met in POS Trinidad on October 30-31, 2008, in preparation for the April 2009 Summit, it recommended “reporting on energy and environmental developments and basing these on international codes of best practice for the energy and extractive industries in compliance with the Extractive Industries Transparency Initiative (EITI) and for the new biofuel industries”.
Unsurprisingly, this recommendation was left out of the draft Declaration of Commitment to be signed by the Heads of State. The EITI aims to strengthen governance by improving transparency and accountability in the extractives sector. The EITI sets a global standard for companies to publish what they pay and for governments to disclose what they receive. Why would the host State Trinidad & Tobago want to avoid global transparency standards in the oil and gas sector? Because a “GAS RUSH” is on…
Friday, April 10, 2009
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