On Wednesday, June 5th, 2024, the PNGEITI Multi-Stakeholder Group (MSG) convened for its first quarter meeting of 2024 at the Tuna Bay Resort, in Port Moresby. This gathering brought together MSG members and the PNGEITI National Secretariat to review and update the resolutions raised in the final quarter meeting of 2023.
The Multi-Stakeholder Group (MSG) is composed of representatives from the government, state-owned entities, extractive companies, and civil society organizations involved in Papua New Guinea’s extractive sector. It is the decision-making body established to ensure the achievement of the objectives and implementation of the standards of the Extractive Industries Transparency Initiative (EITI). The MSG is also responsible for monitoring the disclosure of data in accordance with the EITI Standard and ensuring that the data and analysis from EITI reporting contribute to public debate and inform decision-making.
The PNG Extractive Industries Transparency Initiative (PNGEITI) National Secretariat is an independent body established by the PNG Government to promote transparency and accountability of revenue it receives from the mining, oil, and gas sectors and how it spends these funds. PNGEITI is part of a global best practice standard known as the Extractive Industries Transparency Initiative (EITI) that promotes good governance in the extractive sector.
In EITI implementing countries, companies involved in the extractive natural wealth industries (oil, gas, and minerals) are required to report on what they pay to the governments, and governments are required to publish what they receive from these companies in a given financial year. These financial data are then reconciled by an independent administrator and published in the annual EITI Reports for public information.
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