Statement of Support
Engagement with the EITI
Kosmos supports the implementation of the EITI Standard as a member of EITI's multi-stakeholder groups (MSGs). It is an active member of the MSG in São Tomé and Príncipe and was previously a member of the MSG in Ghana, Mauritania and Suriname. Kosmos has regular engagement with EITI National Committees in other countries of operation such as Senegal. The company facilitates exchanges between EITI processes in different countries, for example between Senegal, Ghana, Mauritania and Suriname. Kosmos promotes the implementation of the EITI with host governments. For instance, it supported Suriname’s original EITI application.
The company collaborates with the EITI on information-sharing and capacity building projects in a number of countries and advocates for greater extractive industries transparency internationally. To do this, Kosmos engages in public policy dialogues in the United States and the United Kingdom, speaks about its approach to transparency at international events and advocates for the adoption of the EITI Standard in countries of operation that are not already members.
Kosmos supports contract transparency and believes it helps to build trust with governments and civil society in the countries where the company works. Kosmos believes that this, in turn, creates greater stakeholder support for its activities, and in the long run, a more stable and supportive operating environment. The company publishes all contracts with host governments on its website.
Kosmos discloses payments to governments at the project level, as described in the European Union Accounting Directive. As part of Kosmos' strategy to engage in public policy dialogues in the US and UK, in October 2015, Kosmos submitted a comment letter, to the United States Securities and Exchange Commission (SEC). The SEC rulemaking process for Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, requires US-listed companies to disclose payments to the US and foreign governments as a standard part of their reporting to the SEC. The company reiterated its position on these topics in a statement in February 2017 and with two further letters to the SEC. A letter sent in March 2018 available here and a letter sent in February 2020 available here.
In 2017 Kosmos submitted a letter to the United Kingdom Department for Business, Energy and Industrial Strategy, welcoming the UK government's efforts to enhance transparency in the oil, gas and mining sectors.
Link to the statement of support on Kosmos' website