… the Canadian government announced its intention to introduce new legislation requiring the disclosure of payments made by Canadian extractive resource companies to domestic and foreign governments. While the United States and European Union have both already taken steps towards implementing mandatory payment reporting requirements for their mining, oil, and gas companies, Canada has now also joined the global movement towards transparency in this regard.
Laying Down the Transparency
POGO Executive Director Danielle Brian at the U.S. Extractive Industries Transparency Initiative (EITI) meeting today. It’s a mouthful of a name, but it means that oil, gas, and mining companies will soon have to be more transparent about the natural resources they are taking from public lands. That means taxpayers will know they are getting the right amount of royalties for the billions of dollars these corporations are making off of public resources.