Poltava Teachers Familiarized with EITI Implementation in Ukraine

Poltava Teachers Familiarized with EITI Implementation in Ukraine
16 September 2016
Poltava Teachers Familiarized with EITI Implementation in Ukraine
  On September the 15th, the Poltava Branch of the Social Service of Ukraine conducted a seminar ‘Extractive Industries Transparency Initiative (EITI). Implementation in Ukraine’ for teachers of the National Yurii Kondratiuk Poltava Oil and Gas College Technical University. This educational institution trains specialists for the oil and gas industry of Ukraine. It is these professionals that will develop the policies in the extractive industry in the future. Therefore, it is important for the future professional to realize the importance of meeting the standards of transparency and accountability during extraction of mineral wealth, which belongs to the Ukrainian People.
   As part of the event, Hanna Kiiaschenko, chairman of the Social Service of Ukraine, Poltava Branch, and a member of the Multi-Stakeholder Group (MSG) for EITI implementation in Ukraine told the participants about the   EITI Standard and the resulting benefits for extractive companies, government, and local communities.
   The expert explained that the EITI Standard was being continuously refined. From now on, the annual reports will have to describe the EITI impact on management of natural resources and name the final beneficiary (real) owners of companies. The 2016 version of the EITI Standard requires mandatory disclosure by countries of the information about real owners not later than 1 January 2020. By 1 January 2017, MSG will have to make public a roadmap for disclosure of information about real owners. The Report will have to document the Government policies vis-à-vis disclosure of real owners and the disclosed information about legal owners and their respective shares.
   Also, Hanna Kiiaschenko described the Government policies in the extractive industry. She noted that the Minister of Energy and Coal Industry, Ihor Nasalyk referred to continued efforts of EITI implementation and increased gas production as one of his Ministry’s priorities.
   In turn, the Minister of Environment and Natural Resources, Ostap Semerak stresses the need of separating the functions of issuance of permits for use of subsoil resources, from those  of geological surveying and geological supervision.
   The Ministry of Environment is already developing procedures for provision of the information essential for decision-making on issuance of special permits, including the register of issued special permits, geological information etc., to investors in a digital format. An interdepartmental task force is set up to analyze the needs of the national economy with regard to strategically important minerals. Its work should result in an improved legislative and regulatory framework: Adoption of a new version of the Code of Subsoil Resources, procedure of issuance of special permits for use of subsoil resources, and program of reforms of the geological sector of Ukraine.
   The event has been conducted as part of the USAID Municipal Finance Strengthening Initiative (MFSI-II) Roll-out Project with regard to providing assistance for implementation of the Extractive Industries Transparency Initiative in Ukraine.