ENGAGEMENT
Trafigura collaborates with EITI
The Extractive Industries Transparency Initiative (EITI) is a global standard that promotes transparency and accountability in the oil, gas, and mining industries. Trafigura became the first independent commodity trading company to publicly support and collaborate with the EITI.
In 2014 we became the first independent commodity trading company to join the Extractive Industries Transparency Initiative (EITI), a partnership between over 50 governments, civil society organisations and companies, which promotes open and accountable management of oil, gas and mineral resources.
EITI members are required to disclose information on payments made to state-owned companies and how the proceeds are used by the government and ultimately benefit the public.
As a supply chain manager, we source and supply natural resources - as opposed to extracting them from the ground. The challenge we faced was finding a way to meet the EITI standard while also charting our own course on transparency.
The policy we initially developed and further updated in 2023 ultimately became the basis for the EITI Standard for commodity traders and has helped us build trust with the governments of resource rich countries and civil society.
