Karin Lissakers - PWYP Montreal Conference 2009
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Karin Lissakers - PWYP Montreal Conference 2009

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Consultative Session on the Natural Resource Charter...

Consultative Session on the Natural Resource Charter

Introduction to the Natural Resource Charter

Karin Lissakers, Director, Revenue Watch Institute

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  • 1. The Natural Resource Charter Consultation Session PWYP International Conference 17 November 2009
  • 2. Award of licenses & contracts Regulation & monitoring of operations The EITI provides a Forum for dialogue and a Platform for broader reforms Revenue Distribution & Management Implementation of Sustainable Development Policies Government Spending Companies Disclose Payments Government Discloses Receipt of Payments Independent Verification of Tax & Royalty Payments ” EITI report” Oversight by a Multi-Stakeholder Group
  • 3. The Natural Resource Charter Builds on EITI Independent Verification of Tax & Royalty Payments ” EITI report” Award of licenses & contracts Regulation & monitoring of operations Revenue Distribution & Management Implementation of Sustainable Development Policies
  • 4. Charter Features
    • Twelve core principles or “Precepts”
    • An explanation of each Precept (Level 2)
    • A detailed set of policy guidelines and prescriptions for each Precept (Level 3)
    • A library and links to source documents (Level 4)
  • 5. Two “Umbrella” Precepts
    • The development of natural resources should be designed to secure the maximum benefit for the citizens of the producing country.
      • Companies have a business plan and economic assumptions before they do a deal;
      • Countries need a plan for their extractive resources and a set of economic assumptions before they do a deal.
  • 6.
    • Extractive resources are public assets and decisions around their exploitation should be transparent and subject to informed public oversight.
      • Red thread through entire Charter
      • Applies to every stage, from the decision to extract to how the money is spent down to the community level
    Two “Umbrella” Precepts
  • 7. Precepts 3-6
    • Getting the best deal
    • Taxing extraction
    • National resource companies
    • Building in environmental and social protections before and during extraction
    Award of licenses & contracts Regulation & monitoring of operations
  • 8. Precepts 7-10
    • 7. Resource revenues should be used primarily for domestic investment
    • Non-renewable assets need to be replaced
    • Manage volatility
    • Improve the quality of public spending
    • Build the economy through local content and diversification
    Revenue Distribution & Management Implementation of Sustainable Development Policies
  • 9. Precepts 11-12 The Other Players
    • The responsibilities of home governments of extraction companies
    • The responsibilities of extraction companies
  • 10. What Happens Next?
    • Depends on You
    • “Consultation draft”
    www.naturalresourcecharter.org The Charter needs your input!