Argentina Moves Forward with Beneficial Ownership Requirements for Extractive Sector
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Introduction
Argentina has made significant progress in implementing the Opening Extractives program by defining the scope and content for the disclosure of beneficial ownership in its extractive sector. This initiative is part of the country’s effort to comply with Requirement 2.5 of the EITI Standard.
Consultation Process
Between August and October this year, a consultation process was conducted to define the scope and content for the disclosure of beneficial ownership. The following stakeholders were involved in the discussion:
- Private sector representatives
- Academia
- Social organizations
- Government ministries (Ministry of Mining and Ministry of Energy)
The consultation aimed to reach agreements on the proposals submitted by the stakeholders.
Outcome of the Consultation
The outcome of the consultation is now available in Spanish, providing an overview of:
- Activities carried out during the consultation
- Proposals received from stakeholders
- Agreements reached during the discussion
Significance of the Initiative
This initiative marks a crucial step towards increasing transparency and accountability in Argentina’s extractive sector. The disclosure of beneficial ownership information will benefit both local communities and investors alike.
Benefits
- Increased transparency: Disclosure of beneficial ownership information will provide insight into the companies operating in the extractive sector.
- Improved accountability: Stakeholders will be able to hold companies accountable for their actions and decisions.
- Enhanced investor confidence: The disclosure of beneficial ownership information will increase trust among investors, leading to increased investment in the country.
Accessing the Report
The full report is available [insert link].