ExxonMobil today congratulated the Extractive Industries Transparency
Initiative on the launch of its Business Implementation Guide, an
important step in the progress of transparency and good governance in
natural resource development.
"Revenue transparency and accountability in
our industry´s relationships with host
governments are critically important," said
Rich Kruger, president of ExxonMobil Production Company. "ExxonMobil
supports transparency and is committed to honest and ethical behavior."
Kruger commented at an industry event to launch the guide, attended by
Dr. Peter Eigen, founder of Transparency International and chairman of
the Extractive Industries Transparency Initiative, a global coalition
for transparency in the extractive industries.
Business and non-governmental organizations and a coalition of
companies, including ExxonMobil, developed the guide under the
leadership of the EITI Secretariat.
Dr. Eigen invited Rex W. Tillerson, chairman and chief executive of
Exxon Mobil Corporation (NYSE:XOM), to co-author the guide´s
forward in recognition of the significant contributions by ExxonMobil to
EITI since it was announced by former British Prime Minister Tony Blair
in September 2002.
Kruger said the guide will assist international companies in conveying
expectations and appropriate roles to affiliates around the world
relating to the reporting of payments to governments for a country´s
natural resources.
"The primary purpose of EITI is to provide
more information on government revenues to help ensure they´re
used to benefit citizens of the country," said
Kruger. "But just as important is the culture
of accountability that is created when governments, companies
non-governmental organizations, international financial institutions and
investor groups work together to improve disclosure and transparency."
According to EITI, 3.5 billion people live in countries rich in oil, gas
and minerals, which, if developed with good governance, can generate
revenues to foster growth and reduce poverty.
ExxonMobil helped advise the UK´s Department for International
Development regarding EITI implementation and was elected to the EITI
board in 2006 by the 15 international oil companies providing financial
support to EITI.
ExxonMobil supports the Group of Eight (G-8) Transparency Initiative and
the United Nations Convention Against Corruption and has played a
leadership role in enhancing revenue transparency in countries in which
the company has significant investments, including Chad, Azerbaijan
Kazakhstan, Nigeria and Equatorial Guinea.
