Statement of support
Engagement with the EITI
Glencore has been a supporter of the EITI principles of transparency and accountability since 2011. Long a supporting mining company, Glencore has also been an active member of the EITI Working Group on Transparency in Commodity Trading, supporting the development of voluntary reporting guidelines on the buying of oil, gas and minerals from governments. The company believes countries that transparently and effectively allocate natural resource wealth for the benefit of their communities have the potential to attract greater, more responsible and longer-term business investment.
Glencore publishes an annual payment to governments report, which provides an overview of its approach to tax and transparency as well as discloses the payments the company makes each year on a country-by-country and project-by-project basis. The report details:
- Payments to national, regional and municipal entities in all countries that it operates in,
- Payments in respect of Glencore’s ownership interest in the Antamina, Cerrejón and Collahuasi joint ventures,
- Commercial payments to state-owned oil enterprises for oil in those countries compliant with the EITI and
- Total payments for oil to state-owned oil enterprises in non-EITI countries.
Read more about the Glencore's approach to transparency on the company's website.
Glencore’s commitment to contract transparency is highlighted in the company’s latest report:
“Reflecting our transparency commitment, we support and encourage the disclosure of our mining and exploration contracts with governments to the extent that these contracts are not subject to confidentiality restrictions. During the course of 2020, we have started the process to disclose such contracts and we will make these available once identified”.
As part of the company's transparency commitment, Glencore publishes beneficial ownership information of its operating joint ventures across its industrial business on its company website.
The company's annual sustainability report and Environmental, Social and Governance databook aligns with the Global Reporting Initiative (GRI) standard. Both publications are available on the company's website.
Link to the statement of support on Glencore's website