Landfolio software facilitates the provision of data for EITI Reports by government agencies and promotes best practices in EITI Reporting.
Using Landfolio to Facilitate EITI Reporting
The Extractive Industries Transparency Initiative (EITI) has developed a Global Standard that promotes transparency and improved governance in a country’s extractives sector, ensuring local citizens benefit from extractive activities. The EITI Standard, published in 2013 (www.eiti.org), provides detailed guidelines for a country to achieve and maintain EITI Compliance. The EITI Report publishes payments disclosed by companies and revenues received by governments following reconciliation led by an independent Administrator and overseen by a Multi Stakeholder Group (MSG) composed of members from civil society, corporations, and government.
As a result, government agencies must compile comprehensive, detailed data for EITI reports, including data on revenue streams, commodity reporting, contract disclosures, license ownership, and more. They also need to report by payment type, company and government agency, and project. This can be a timely, inefficient process for government agencies without an advanced system in place.
Landfolio® software for natural resource applications provides advanced reporting and data extraction functionality to facilitate the provision of data for EITI reports. The software facilitates concession and tenure reporting, revenue stream reporting, contract and agreement reporting, and disaggregated data.
When used to facilitate EITI reporting, Landfolio offers the following benefits to government agencies:
- Simplifies acess to actualized revenue and related data
- Promotes best practices in EITI reporting
- Saves on data compilation time and resources
- Restores public trust
- Increases sector revenues and stimulates investment
- Simplifies generation of customized reports for EITI reporting
- Concession and tenure reporting including license holders, license area coordinates, application dates, granting dates, duration of license and commodities
- Revenue stream reporting including royalties, dividends, bonuses, license fees, rental fees etc
- Contract and agreement reporting, including beneficial ownership through shareholding functionality, and conditions (obligations)
- Facilitates the disaggregation of data by payment type, commodity, by company and Government agency (Mining Cadastre), and by project, if required