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How does the Promoting Revenue Transparency Project complement the Extractive Industries Transparency Initiative?

	Full text PDF: PRT description and relationship to Extractive Industries Transparency Initiative (EITI) (PDF)
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The Promoting Revenue Transparency Project (PRT) is an independent civil society initiative that complements the Extractive Industries Transparency Initiative (EITI) and other efforts to achieve transparency in oil, gas and mining revenues. There are differences and similarities between the PRT project and EITI that make them distinct but complementary:

Aspect	EITI	PRT
Nature of the initiative	Multi-stakeholder driven, voluntary membership	Independent civil society driven with multi-stakeholder participation
Means	Committing host countries and companies to revenue disclosure along a basic set of criteria at the country level.	Measuring revenue transparency policies and practices of host and home governments and companies against a more expansive set of criteria.
Strategy	Validations process to assess the performance of member host countries in implementing EITI core criteria.	Use of publicly available information to assess the actual revenue transparency policies, systems and practices of host and home countries and companies.
Aim	Making the revenues from the extractive industries of more beneficial to society by increasing transparency and accountability concerning these revenues.	Making the revenues from the extractive industries of more beneficial to society by increasing transparency and accountability concerning these revenues.
Target	Achieving actual disclosure of revenues received by specific countries in those territories where the initiative is being implemented. As of Spring 2007, there are five countries that have begun reporting processes under the auspices of EITI. The cooperating companies are only those active in these countries.	Looking at the systems for revenue disclosure of a wider range of countries and companies. The companies report will cover 42 companies and 21 countries of operation and will consider three revenue transparency dimensions: policies, management and performance.
Issues Covered	Revenue Payments	Systems for revenue disclosure include: revenue payments, management and expenditure, anti-corruption, contract transparency, accounting practices, and regulatory issues.
Scope	Governments that have signed up, and the companies operating in them.	Both EITI and non-EITI host and home countries and companies.

The goal of the Promoting Revenue Transparency Project is not to monitor progress of the Extractive Industries Transparency Inititative, but rather to strengthen EITI and other efforts to instill transparency in oil, gas and mining industries in the following ways:

PRT is an independent voice on the status and advancement of reforms aiming at the mainstreaming of revenue transparency as an international standard.
PRT is able to address companies and countries that are not yet involved in EITI, helping to raise awareness and increase the incentives for others to join global revenue transparency efforts.
By looking at issues relevant to revenue transparency more broadly than EITI - including anti-corruption policies and practices, revenue management and expenditure systems - this project helps to identify complementary areas of needed reform. The PRT encourages companies and governments to go beyond basic payment disclosure, and supports other enabling conditions for increased transparency and accountability at the host country level.

In sum, EITI as well as all stakeholders will benefit from the additional information provided by the reports produced by Transparency International and the Revenue Watch Institute.