End-of-term (July 1, 2014 to June 30, 2016)
On Schedule
Introduce legislation on mandatory reporting standards for the extractive sector that require the reporting of certain payments made to governments related to the commercial development of oil, gas, and minerals.
| Deliverables | Status / Final Results | Lessons Learned | Completion Level |
|---|---|---|---|
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Introduce new legislation that will require extractive entities to implement mandatory reporting standards and report annually on payments to all levels of government, domestically and internationally. |
On , the Government of Canada introduced the Extractive Sector Transparency Measures Act (ESTMA) as part of the Economic Action Plan Act 2014 No.2. The ESTMA received Royal Assent on |
The development of the ESTMA highlighted the value in undertaking robust, transparent and inclusive engagement, covering a wide-range of stakeholders. |
Complete |
|
Ensure stakeholder engagement on the establishment and implementation of these mandatory reporting standards. |
To support the development of the tool to support the implementation of the ESTMA, Natural Resources Canada continued to consult with industry and civil society in the development of implementation tools (i.e., a guidance document and technical specifications). Based on the input provided by stakeholders the Department on publicly released the Act’s Guidance and Technical Reporting Specifications on the ESTMA website. The department continues to engage Indigenous leaders, organizations, and experts at key national events (e.g. the Assembly of First Nations Forum on Energy, and the Aboriginal Financial Officers Association of Canada National Conference) to profile the ESTMA and discuss its impact on Indigenous governments and their relationship with industry, during the deferral period on the reporting of payments to Indigenous Governments in Canada, as outlined in the Act. NRCan continues to engage extractive industries to promote compliance with the Act. |
Stakeholder engagement throughout the process allowed government to leverage industry knowledge and expertise, enabled the development of useful tools and guidance to support industry’s compliance with the Act, and contributed to Canada’s objective of aligning with the emerging global standard on transparency reporting. Engagement to date has highlighted the importance of ongoing engagement in the early years of implementation, to work closely with industry and other stakeholders to understand the reporting challenges and provide updated guidance and tools to support compliance with the Act. |
Substantial Rolled over in 2016-18 Plan |
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Require extractive entities to publish data on the payments they make to governments in Canada and around the world. |
On , Canada’s Minister of Natural Resources announced the ESTMA’s coming into force. As a result, reporting entities are now required to annually publish their payments to governments on the internet within 150 days following the end of each of its financial years. The Act provides for a two-year deferral of the obligation to report payments to Indigenous governments in Canada. |
It is important to continue to work with stakeholders and governments in other jurisdictions to ensure alignment with the emerging global standard on transparency, to ensure that data on payments made to governments is accessible to the public, and to minimize administrative burden on industry. |
Substantial |
Relevance
Supports the principles of transparency and accountability, and is targeted at helping address the OGP Grand Challenges of improving public services, increasing public integrity, and increasing corporate accountability by legislating requirements for public reporting in the extractives sector.
Ambition
Creates an open reporting environment, with clear and understandable information made available to the public, in order to achieve greater transparency and accountability in the oil, mining, and gas sector for Canadian companies working at home and abroad.