Neptune Energy has joined the Extractive Industries Transparency Initiative (EITI) designed to improve accountability for revenues paid and received for a country’s oil, gas and mineral resources.
PUBLIC AWARENESS
Signatories commit to reporting transparently their operations in EITI-supporting countries to help inform policymakers and raise standards of governance.
“We are proud to help uphold the EITI’s goal of strengthening public awareness of how countries’ natural resources are managed,” said Kate Niblock, Neptune’s head of environment, social and governance.
“Paying taxes is an important part of the socioeconomic contributions that we make in the countries where we work in Europe, North Africa and Asia Pacific, and our support reflects our commitment to transparency and open reporting of information.”
REGULATIONS
EITI executive director Mark Robinson added that Neptune Energy would have the opportunity to learn from and set international best practices on corporate transparency and accountability.
The company was already committed to transparent tax disclosure by reporting payments to governments on a country-by-country and project basis, in keeping with the UK’s national reporting regulations.