Financial Overview

We aim to be transparent to our members, partners and donors. As a companion to our first digital annual report, which contains a summary of our achievements and activities, we’ve included our annual Trustees’ Report, Auditors’ Report and Financial Statements for the year ending December 2017.

Take a closer look at our Trustees' Report and Financial Statements below.

Our charitable objects

PWYP’s overarching charitable object is the promotion of sustainable development for the benefit of the public, where sustainable development means “development that meets the needs of the present without compromising the ability of future generations to meet their own needs”. We work towards that object through three focus areas:

  • the promotion of ethical standards of conduct and compliance with the law by governmental, industrial, voluntary sector and professional organisations in international and domestic initiatives relating to the extractive industry, in particular (but not limited to) the Extractive Industries Transparency Initiative

  • the prevention or relief of poverty and the improvement of the conditions of life in socially and economically disadvantaged communities affected by the extraction and supply of natural resources

  • the advancement of education and research into the supply and value chains for the extraction of natural resources, and the publication and promotion of the useful results of such investigations and research

Our Strategic Report sets out in detail our activities, which we have carried out in line with our charitable objectives. The Trustees are therefore confident that PWYP has complied with the duty in section 17 of the Charities Act 2011 to have due regard for public benefit guidance published by the Charity Commission.

The Trustees confirm that they have referred to the Charity Commission’s general guidance on public benefit when reviewing the organisation’s aims and objectives and in planning future activities.

PWYP carries out its charitable objects by:

  • Engaging with governments and companies through the multi-stakeholder Extractive Industries Transparency Initiative (EITI) to develop an effective standard and to support the participation of civil society organisations in the initiative

  • Promoting the use and analysis of data from EITI and mandatory disclosure initiatives to support good governance in the extractive sector

  • Commissioning research into the supply and value chains for extraction of natural resources and promoting the useful results of such investigations and research to the wider public

  • Supporting civil society organisations, in particular those concerned with the promotion of human rights