Accelerating beneficial ownership transparency Knowing who ultimately owns extractive companies can help mitigate corruption and deter illicit financial flows. Maintaining up-to-date public registers of company owners can provide essential data to address potential risks. In February 2021, the EITI and Open Ownership launched Opening Extractives, a new global programme to advance beneficial ownership transparency. Largely funded by the BHP Foundation, the programme will run for five years, enabling the EITI and Open Ownership to work alongside governments, civil society groups and companies to support the establishment and use of beneficial ownership registers. Through the programme, a group of 10-12 countries will be offered intensive technical support customised to their needs. The programme will also work to promote the widespread publication of beneficial ownership data by communicating lessons learned and highlighting examples of data use and publication. eiti.org/beneficial-ownership Armenia Armenia has demonstrated strong commitment to beneficial ownership transparency since becoming an EITI country in 2017. Since 2018, Armenia’s government has been strengthening its legislation on beneficial ownership disclosure, in line with the country’s broader anti-corruption agenda. Armenia EITI worked together with the World Bank, Open Government Partnership, Open Ownership and local partners to establish a public register in line with open data principles, and began testing in early 2021. Companies submit declarations electronically through the platform and the register simplifies the process of collecting comprehensive ownership information. It automatically verifies some of the data and makes this information easily accessible to the public. bo.e-register.am/en/auth 14 Knowing who* owns and controls* extractive* companies* Photo SOURCE: BHP “Beneficial ownership transparency is critical to ensuring the revenues generated by the natural resources industry provide maximum benefit to every single citizen.” James Ensor BHP Foundation Chief Executive Officer and President “Beneficial ownership transparency is critical to ensuring the revenues generated by the natural resources industry provide maximum benefit to every single citizen.” James Ensor BHP Foundation Chief Executive Officer and President “Beneficial ownership transparency is critical to ensuring the revenues generated by the natural resources industry provide maximum benefit to every single citizen.” James Ensor BHP Foundation Chief Executive Officer and President “Beneficial ownership transparency is critical to ensuring the revenues generated by the natural resources industry provide maximum benefit to every single citizen.” James Ensor BHP Foundation Chief Executive Officer and President “Beneficial ownership transparency is critical to ensuring the revenues generated by the natural resources industry provide maximum benefit to every single citizen.” James Ensor BHP Foundation Chief Executive Officer and President “Beneficial ownership transparency is critical to ensuring the revenues generated by the natural resources industry provide maximum benefit to every single citizen.” James Ensor BHP Foundation Chief Executive Officer and President “Beneficial ownership transparency is critical to ensuring the revenues generated by the natural resources industry provide maximum benefit to every single citizen.” James Ensor BHP Foundation Chief Executive Officer and President