Independent administrator to prepare Guyana’s 5th EITI report being sought

– portion of US$20M World Bank financing to be used

An independent administrator is being sought by the People’s Progressive Party/Civic (PPP/C) Government, that will be in charge of preparing what will be Guyana’s fifth Extractive Industries Transparency Index (EITI) report for the 2021 fiscal year.
The Government recently released a Request for Expressions of Interest (REOI) for this project, which will have a duration of six months and will commence in September. Consultants were given the green light to form joint ventures to apply and it was explained by the REOI that the funding will be sourced from the US$20 million in financing the World Bank has provided for the Guyana Petroleum Resources Governance and Management Project.

Among the functions the consultant is expected to fulfil towards preparing the report, are systematically recording blind spots in governance, collaborating with external stakeholders, outlining Guyana’s renewable energy sector including considering how to classify carbon trading transactions and ensure more extensive disclosure of licensing and environmental data.
“This objective is critical, as increased demands are mounting to amplify the transparency of data about critical and unsustainable mining concepts. This objective commits to the disclosure of the whole text of any contract, license, concession, production-sharing agreement, or other agreement granted by, or entered into by, the GoG.”
“Clearly, there is an increasing desire to make certain that raw materials are extracted sustainably and without negative effects, especially where there is a great economic dependence on raw material extraction and export,” the REOI states.
The administrator will also be expected to make recommendations, such as consolidating the systemic disclosure of information in a way that will enhance accessibility and reliability. A part of the consultant’s work will also include reviewing existing legislation to identify gaps, as well as preparing a gap analysis report for EITI in Guyana, considering anti-corruption activities and gender issues. The Government also assured that EITI requirements and deliverables not covered in the fourth GYEITI report will be covered in this one.
“Any EITI Requirements and Deliverables not covered in the 4th GYEITI Report for Fiscal year 2020 or any recommendations concluded in the 4th EITI Report, shall be addressed in the 5th IA GYEITI Report for Fiscal year 2021, and the following provided.”
“(a). A matrix outlining each deliverable, the corresponding phase or phases, the support needed, the responsible party, the responsible staff, and the respective deadlines should be provided for FY 2021 Report. (b). A similar matrix should be provided for the previous report and include a status update on whether the Deliverable was provided in part or entirety while outlining reasons for failure,” the REOI added.
The Extractive Industries Transparency Initiative (EITI) Board temporarily suspended Guyana on February 1, 2023, for failing to publish its fourth report for the 2020 fiscal year on transparency and accountability in the local extractive industry by the December 31, 2022 deadline.
At the time of the suspension, it was noted that in accordance with the EITI Standard, it was agreed that the suspension would be lifted if the EITI Board is satisfied that the outstanding report was published within six months of the deadline. Earlier this month, however, the Board lifted Guyana’s suspension from the organisation.
The Secretariat confirmed that Guyana published its 2020 EITI Report on June 30, 2023. As such, the condition for lifting the suspension was met. In a statement following the development, President Dr Irfaan Ali had said the Government remains confident that all systems will remain in place to ensure that Guyana is not placed in a similar position in the future.
The EITI is an international body that requires implementing countries to publish comprehensive reports which include the full disclosure of Government revenues from the extractive sector, as well as the disclosure of all material payments made to the Government by companies operating in the oil, gas, and mining sectors.
Guyana’s first report was submitted to the International Secretariat on April 25, 2019. Membership in the EITI means that Guyana will have to adhere to the 12 principles of the EITI standards voluntarily.
These 12 principles include encouraging corporate social responsibility, sharing of information, revealing beneficial ownership, and promoting revenue transparency. Failure to do so could be met by suspension from the EITI. Guyana’s next validation commences on April 1, 2024.
The EITI had previously allocated Guyana a score of 52 for implementing the 2019 standard, commending Guyana for the strides taken to make information available and consult with stakeholders, while also providing recommendations to further strengthen the system.