Mercuria CSR Report 2020 - Flipbook - Page 85
EITI trading working committee
This reporting guidance aims to ensure consistent
EITI Transparency Initiative
disclosure of payments to the state or state-owned
enterprises. These
explicitly
encouraged
buying
companies to disclose information regarding the
volumes received and payments made to governments
and state-owned enterprises (SOEs) for the purchase
of oil, gas and/ or mineral resources. Mercuria is
committed to implementing these guidelines within its
annual reporting cycle and we will continue to develop
The Extractive Industries Transparency Initiative (EITI)
these in the future with more detailed reporting to
is a global standard that promotes transparency and
enable stakeholders to better understand how the
accountability in the oil, gas and mining sectors. The
national share of oil, gas and minerals is being sold and
EITI Standard (2019) is currently implemented in 52
how the proceeds of those sales are managed.
countries worldwide and requires countries to report
on the sale of the state’s share of production or
other revenues collected in kind, a form of revenue of
WEF ESG reporting commitment letter
paramount importance for many resource-dependent
governments. To enable countries and companies to
Mercuria Energy Group joined a growing coalition of
meet the EITI standard relating to the sales of a State’s
61 top business leaders across industries to announce
share of production the EITI in conjunction with the
a commitment to the Stakeholder Capitalism Metrics;
EITI Working group on Transparency in Commodity
a set of environmental, social and governance (ESG)
Trading published detailed guidance in 2020 to enable
metrics and disclosures released by the World
companies to disclose payments to state owned
Economic Forum and its International Business Council
enterprises. Mercuria participated in this working
(IBC) in September 2020 that measure the long-term
group.
enterprise value creation for all stakeholders.
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