Deliverables for this commitment are on track to be completed by June 2016.
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.
Results | Next Steps | Body | Completion Level |
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1. 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. |
Completed
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2. Ensure stakeholder engagement on the establishment and implementation of these mandatory reporting standards. |
Substantial
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3. Require extractive entities to publish data on the payments they make to governments in Canada and around the world. |
Substantial
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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.
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.