Mandatory-reporting plan for energy and mining companies … – The Globe and Mail
Natural Resources Minister Greg Rickford vowed to introduce legislation requiring energy and mining companies to report all revenue paid to foreign and domestic governments, but said its impact on corporate payments made to First Nations will be delayed for two years while Ottawa consults aboriginal leaders.
At a meeting in Sudbury, provincial and territorial resource ministers endorsed Ottawa’s plan to impose new mandatory reporting of resource payments. But most provinces appear willing to let Ottawa take the lead on the measure, which includes controversial new accountability rules for First Nations.
“Canada is recognized around the world as a leader in promoting transparency and accountability in the extractive sector as a whole, here at home and around the world,” Mr. Rickford said on Tuesday after the ministerial meeting. “We have a responsibility to ensure that here at home and abroad, our corporations – in their relationships that they build in the effort to develop resources responsibility – that they are transparent and accountable.”
Mr. Rickford said the proposed legislation would allow each province or territory to implement its own mandatory reporting regime that could supersede the federal rule, and Quebec has indicated it intends to do so.
