Transparency in the management of revenues from natural resources : proactive disclosure of information in this area is high on the agenda of the producing countries and the extractive and trading industry. Philia’s main countries of presence and operations are supporting members of the EITI.
Philia believes that transparency in the management of revenues from natural resources is a fundamental element of good governance and sustainable development. Consequently Philia is a supporting company to the Extractive Industries Transparency Initiative (EITI).
The EITI is a global standard that promotes open and accountable management of natural resources and is an important way of combating bribery and corruption, increasing public confidence in the conduct of business. As such, it plays a significant role in improving transparency, governance, co-operation between stakeholders and the development of society.
This is fully in line with Philia’s aim to contribute, in a tangible manner, to the positive development of each country in which it operates. To this end, we are committed to a transparent reporting and independent auditing of our financial disclosures. We are opened to information exchange and we proactively engage into a multi-stakeholder dialogue. We expect thereby to continue to nurture trustful relationships with investors, all stakeholders, and society at large.
Read more about the EITI and Philia’s support.