Page 56 - EniFor2016_Report_eng

54 Eni for 2016 | Cooperation model

Transparency

of payments

Improving governance and transparency in the extraction sector is crucial in order to foster good use
of resources and prevent corruption. It increases the awareness of local communities and encourages
governments to publish more complete information on payments, investments and revenues generated
by Oil & Gas activities. To achieve these objectives, Eni:

Starting from 2015 (2014 data), Eni has been part of the Extractive Eni supports EITI’s local
Eni started to voluntarily disclose Industries Transparency Initiative Multi-Stakeholder Groups
payments made to governments. (EITI) since 2005. This global in member Countries by helping
Since 2017, in compliance with initiative promotes responsible and to prepare the annual Reports
European Directive 2013/34 EU transparent use of the financial and is a member in Congo,
which came into force in Italy, resources generated in the Mozambique, East Timor, Ghana,
data on such payments made in extractive sector. Ukraine, and in Kazakhstan,
2016 will be published in a special Nigeria and Norway through local
document (Report on payments industry associations.
to governments).