OECD HomeDevelopment Co-operation DirectoratePolicy Guidance on Mitigating the Risks of Illicit Financial Flows in Oil Commodity Trading - Enabling Integrity in the Energy Transition - en
Development Co-operation Directorate
Policy Guidance on Mitigating the Risks of Illicit Financial Flows in Oil Commodity
Trading
Enabling Integrity in the Energy Transition
This Policy Guidance is a product of the Development Assistance Committee’s multi-year
programme of work on Illicit Financial Flows (IFFs) in oil commodity trading. It proposes
a set of relevant, feasible actions for providers of official development assistance
(ODA) to respond to IFFs in oil commodity trading. The aim is to enhance the mobilisation
of domestic resources for the benefit of populations living in oil-producing developing
countries, and enable integrity in their energy transition, particularly in carbon
trade.
Available from August 08, 2023Also available in: French
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WHAT SHOULD OFFICIAL DEVELOPMENT ASSISTANCE (ODA) PROVIDERS DO:
Improve understanding of Illicit Financial Flows (IFF) risks and automatically consider IFFs in project design to inform development programming.
Increase engagement with national oil companies (NOCs).
Adopt a multi-scalar approach to addressing the problem of IFFs.
Leverage capabilities and engagement of the International Monetary Fund (IMF).
Carry out corollary actions, in particular through the Extractive Industries Transparency Initiative (EITI) partnership, to enhance the impacts of transparency.