The Government of Canada will establish reporting standards on the payments made to governments in Canada and abroad by Canadian companies in the mining, oil, and gas sectors. Extractive companies are often required to make such payments to cover licence fees, rental and entry fees, royalties, and other costs. Mandatory reporting standards will increase Canadians’ awareness about how extractive companies’ revenues are spent, which promotes transparency, and helps to ensure a level playing field for companies operating in Canada and internationally.
Potential activities may include:
- Creating new legislation on mandatory reporting by companies in the mining, oil, and gas sectors; and
- Requiring extractives companies to publish data on the payments they make to governments in Canada and around the world.
Your collaboration will help make this proposed activity become a reality. In addition to your general comments, please let us know:
- What do you see as the ultimate goal for this proposed activity within a two year span?
- What are the specific actions and milestones required to meet this goal?
- Who else should be involved in the implementation of this proposed activity?