A new approach to assessing progress In December 2020, the EITI Board agreed a new approach to Validation, following extensive consultation with implementing countries and partners. The revised model acknowledges that countries have different starting points and face diverse challenges in implementing the EITI. It rewards countries for using the EITI to address their most pressing priorities in extractives governance. Moving forward, countries undergoing Validation will receive a score based on their performance in three components. A growing network of extractives transparency The EITI is continuously expanding and diversifying its network of countries committed to meeting the global standard of extractives transparency. Ecuador and Uganda have been admitted as implementing countries this year, and the governments of Angola and Gabon have publicly expressed their commitment to join. The International Secretariat is also providing guidance to stakeholders in Lebanon and Tunisia on applying for EITI membership and continues to support Equatorial Guinea in their candidature process. The EITI has also welcomed new supporting companies this year, including the Boliden, Lundin Foundation, Nigerian National Petroleum Corporation and PetroNor E&P. Following a decision by the EITI Board in February 2021, the International Secretariat will undertake an assessment of company adherence to the Expectations for EITI supporting companies, which were agreed in 2018. The assessment aims to highlight best practices from companies in meeting the expectations, as well as identify opportunities to improve and support corporate transparency and accountability. Stakeholder engagement This component assesses EITI Requirements 1.1 to 1.4, namely the participation of constituencies and multi-stakeholder oversight throughout the EITI process. Transparency This component assesses EITI Requirements 2 to 6, namely whether the country meets the disclosure requirements of the EITI Standard. Outcomes and impact This component assesses EITI Requirements 7 and 1.5, namely on progress in addressing national priorities and contributing to public debate. Countries may also be awarded extra points for effectiveness and sustainability of EITI implementation. COMPONENTS OF EITI VALIDATION 27 Photo credit: Boliden/Lars deWall