The energy sector in Caribbean Community (CARICOM) member country, Trinidad and Tobago, would appear to be gushing with pride having recently been declared in the 2023 Extractive Sectors report as the fourth most transparent globally, a sector which, over the years, has been known for its proclivity for a lack of transparency and corrupt practices. The rating was derived from an assessment of the Trinidad and Tobago energy sector “to gauge how well the country implements the EITI Standard,” a report in the Tuesday January 23 issue of the Trinidad and Tobago newspaper, Newsday, says. “TT attained a score of 89 out of 100 for meeting the Standard requirements,” the report added.
That tally was, reportedly, the highest score in Latin America and the Caribbean and fourth highest globally. The Newsday Report adds that “in a list of key takeaways, the report was upbeat about the local energy sector’s earnings and accountability.” Globally, the EITI seeks to promote transparency and accountability in the oil, gas and mining sectors where dozens of countries around the world implement the EITI Standard through which they publish “timely and comprehensive information” on the extractive industries. The EITI’s disclosures include data on revenue flows, licenses and contracts, company ownership, and social and environmental impacts.
