Ukraine improves its ranking under the EITI Standard

Olha Polunina, Manager for Sustainable Development at DiXi Group, analysed how Ukraine improved its ranking under the EITI Standard.

After the second Validation under the Extractive Industries Transparency Initiative (EITI), Ukraine received the assessment “meaningful progress” with considerable improvements. Moreover, in terms of certain indicators, the assessment was “beyond” the requirements of the EITI Standard (in particular, as regards the civil society engagement in EITI implementation and reporting on revenues and expenditures in extractive industries).

The Validation is a special mechanism of assessing the country’s conformity with the EITI Standard, which also includes a qualitative assessment of implementing the already issued recommendations. Thus, the EITI Board agreed that Ukraine has fully addressed three of the eight corrective actions from the country’s first Validation. The EITI Board acknowledged Ukraine’s efforts concerning disclosure of beneficial ownership information, creation of an online EITI reporting portal, and the launch of EITI implementation monitoring and assessment at the national level.

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