The Extractives Industries Transparency Initiative (EITI) today welcomed OCP Group as its newest supporting company.
As a leader in plant nutrition and the world’s first producer of phosphate-based fertilizers, OCP is the responsible custodian of the world’s largest reserves of phosphate. Phosphates are critical in the global economy. When processed, phosphate rock is used as a key element in fertilizers, food, cosmetics and electronics.
The company is committed to embedding transparency in its corporate management systems and processes, as underscored in its statement of support: “We have a bold vision for a sustainable future. Our governance ensures we always act ethically, with integrity and transparency.”
To this end, OCP Group publishes an interim consolidated financial statement which summarises financial information. The group has also established a comprehensive code of conduct including antibribery and anticorruption policies.
Support for the EITI will enable OCP Group to further its transparency agenda through its commitment to meeting the Expectations for EITI supporting companies, which outline nine areas that underpin corporate accountability and transparency in line with the EITI Standard.
“We welcome OCP to the EITI community,” said Mark Robinson, EITI Executive Director. “By committing to the revised Expectations for EITI supporting companies, OCP will learn from international best practices and adopt a leadership role in making its operations more transparent and more accountable.”