Trinidad and Tobago has been an EITI Country Compliant since January 2015. This means that Trinidad and Tobago has met all of the EITI requirements listed in the Standard
As a member of the EITI the Government of the Republic of Trinidad and Tobago (GORTT) is committed to declaring annually, all revenues received from companies engaged in the extractive industries (mainly oil and gas upstream activities) and the companies, in turn, will publicly declare monies paid to GORTT. Discrepancies between the two reported figures, if any, will be subjected to an independent audit to reconcile the differences. The results of this independent audit is published in our EITI Reports and widely disseminated.
EITI Inception in T&T
The start of the EITI in Trinidad and Tobago predates its 2010 membership. Tour relationship with the EITI begun in 2003 when the then Minister of Finance, Christine Sahadeo represented Trinidad and Tobago in the First EITI Plenary Conference in London. It is at this meeting that the twelve EITI Principles were established. Over the years Trinidad and Tobago has developed and strengthened its relationship with the International Secretariat.
In 2010 the former Minister of Energy and Energy Industries, Carolyn Seepersad- Bachan announced at a media conference on 8th December, that the GORTT had taken a decision to apply for membership of the Extractive Industries Transparency Initiative (EITI) in an effort to bring greater transparency and accountability to the extractive industries sector. Former Minister Seepersad-Bachan also announced that Cabinet had agreed to the establishment of a tripartite stakeholders Steering Committee (TTEITI SC).
View the TTEITI Fact Sheet- March 2016 for more information on the inception of T&T
TTEITI Steering CommitteeTEITI Fact Sheet- March 2016
The TTEITI SC is mandated by the Cabinet of the GORTT to oversee EITI implementation. The TTEITI SC is a multi-stakeholder committee of 19 members comprising government (6), companies (6) and civil society (6), and Chairman Victor A. Hart, a national transparency advocate. Cabinet has mandated the Ministry of Energy and Energy Industries (MEEI) to provide the TTEITI SC with ‘general administrative support and the annual funding for the estimated costs of operating the EITI’. The initiative is seen as an exemplar of tripartite cooperation between stakeholders working together in the best interest of the country.
For a list on Steering Committee Members click here