Participants from the Mines and Geosciences Bureau attended the 7th Report of the Philippine Extractive Industries Transparency Initiative (PH-EITI) last July 29, 2021 via Zoom. According to PH-EITI, six Country Reports have already been published. The 7th Report is composed of data disclosed by 41 metallic mines, 29 nonmetallic mines, 3 oil and gas companies, 8 national agencies, and 116 local government units, making up PHP 62.4 billion in revenues for fiscal year 2019.
The 7th Report focused on informing stakeholders of the value of extractives transparency and accountability in pursuing inclusive and resilient economic growth and national development, hence the theme “Resiliency in Transparency: The Seventh PH-EITI Report”. The Report also documents the impact of the COVID-19 pandemic on mining, oil, gas, and coal industries, the resulting outlook for the sector, the sector’s response to the global health crisis, and an assessment of the Social Development and Management Program (SDMP) as a local development mechanism.
The program included a presentation of the 7th Report’s key findings, the outlook for the sector, a discussion on SDMP, as well as the launch of the EITI Mainstreaming Action Plan, among other talks. The event, officially capped by the Transparency Awards, is an annual award-giving ceremony given by PH-EITI to recognize outstanding performance and achievement in the implementation of EITI and promotion of extractives transparency as a whole. The conference also served as the starting activity for the Online Learning on Extractives (On Learn) 2021, which is the online version of the yearly PH-EITI Local Government Unit Roadshow.
By: Mineral Economics, Information, and Publication Division
Participants during the online PH-EITI National Conference 2021