PH withdraws from EITI over 'biased' validation
Finance Secretary Carlos Dominguez III announced that the Philippines is withdrawing from the Extractive Industries Transparency Initiative (EITI) due to its 'subjective, biased, and unfair' validation process.
Dominguez cited lack of impartiality and transparency in EITI's assessments, which he believes undermines the country’s sovereignty.
The Philippines has been a member of EITI since 2013 and was recognized for impactful implementation in 2016.
Despite this, Dominguez noted that the country will continue to ensure transparency in its extractives sector independently.
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