Promoting better governance through transparency for oil and gas revenues Jean-Franois Lassalle E&P Vice President, Public Affairs Investor Relations, London, November 19th, 2009
Revenues from oil and gas should contribute to development Economists and specialists of development describe resource curse paradox Resource-rich countries are home to over 60% of the worlds poorest people Only 5 hydrocarbon-rich…
Transparency and accountability of oil and gas revenues in line with Totals CSR policy Promoting our business principles with partners Integrity in Totals operations Total rejects bribery and corruption in all forms, whether public…
EITI : increase transparency and accountability in the extractive sector Extractive Industries Transparency Initiative (EITI) Launched in 2002 and supported by G8 since 2003 Empowerment of civil society in resource-rich countries…
Produce adequate and cross-verified information on extractive revenues Companies disclose what they pay Civil to host countries society Host countries disclose what they receive EITI from companies Local Committee An approved…
Benefits for governments and civil society in implementing countries Economic incentive More attractive investment environment Better access to financing Oil and gas revenues benefit a wider population Governance improved Reduced…
Reduced risks for extractive companies Political risks mitigated by better governance EITI implementation helps extractive companies to : Respond to legitimate demands and reduce suspicion from civil society and international…
Long-term commitment by Total to EITI Transparency files for 5 countries Active involvement in EITI Public support since the beginning Participation in the Core Group for setting up EITI Board member (alternate from 2006-2009,…
EITIs challenges Based on voluntary commitment by governments and fair enforcement of the process Absence of some major players Less than 10% of global oil and gas production covered Absence of some of the industrys new players…
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