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... A Canadian Appeal for Global Transparency in the Oil, Gas and Mining Industries
PWYP-Canada welcomes a recent statement of support for greater transparency measures for the Canadian extractive industries, both at home and abroad. The statement, endorsed by 17 investor groups across Canada, calls for Canadian implementation of the EITI, as well as for Canadian legislators and securities regulators to introduce enhanced disclosure requirements for extractive industry companies operating abroad.
To read the statement, click here.
On September 20th, 2011 President Barrack Obama announced that the United States, under its national action plan for the Open Government Partnership, intends to implement the Extractive Industry Transparency Initiative (EITI). This announcement serves to strengthen the leadership that has already been demonstrated by the United States in the field of transparency and accountability in the extractive sector. In July 2010, the United States adopted the Dodd-Frank Act which will soon required all mining, oil and gas companies registered with the Securities and Exchange Commission (SEC) to publish what they pay to foreign governments.
PWYP-Canada welcomes the United States efforts in this area, and hopes that it will serve as an example for the Canadian government as it too prepares its national action plan for the Open Government Partnership for this coming March. This provides Canada with a unique opportunity to strengthen its support to the EITI, by fulling implementing the initiative and reaffirming its support for transparency and anti-corruption measures in the extractive sector.
To read the PWYP-Canada Press Release, click here.
On September 7th 2011, PWYP-Canada, in partnership with the Human Rights Research and Education Center at the University of Ottawa and the EITI International Secretariat, hosted an event entitled The Extractive Industries Transparency Initiative: Achievements, Challenges and the Way Forward, featuring current chair of the EITI Board Rt. Hon Clare Short. Mrs. Short used the opportunity to promote the EITI, comment on the successes and remaining challenges that the initiative faces, as well as to promote implementation of the EITI by developed countries, including Canada. The discussion also featured Mark Pearson of Natural Resources Canada; François Meloche of Bâtirente; and Ian Smillie, Chairman of the Diamond Development Initiative.
The event was well attended by members of the Canadian government, investment community, private sector, academia and civil society. The discussion focused on the achievements of the EITI; the challenges of the EITI in increasing the number of implementing countries and ensuring that the process remains consistent with the EITI standards; and the future of EITI in terms of maintaining its relevance and reputation as the leading global standard for transparency in the extractive sector.
Throughout the event, Mrs. Short used the opportunity to encourage the Canadian government to implement the EITI, and strongly emphasized implementation of the EITI by countries like Canada would add legitimacy to the initiative and demonstrate that transparency in natural resource revenues is important, as well as best practice in all contexts.
Event Resources:
To read the Summary Report from the event, click here.
To read the article How Ottawa Can Reduce the Risk of Corruption Abroad, by Globe and Mail correspondant Barrie McKenna, click here.
To read the article Canada Lax in Support of Efforts to Ease Corruption Abroad, by Vancouver Sun correspondant Don Cayo, click here.
To read the article Is the EITI a Vehicle for Corporate Social Responsibility? by Sonya Nigam, Executive Director of the Human Rights Research and Education Center at the University of Ottawa, click here.
The July 15th 2011 edition of Le Devoir featured an op-ed written by Ousmane Deme, Director of PWYP-Canada, and Kady Seguin, Programme Analyst for PWYP-Canada, that discusses the 1-year anniversary of the Dodd-Frank Act in the United States. To read the article, click here.
Canada should adopt U.S. legislation which sheds light on oil and mineral revenues
OTTAWA - Canada must follow the example set by the U.S. Congress and adopt ground-breaking legislation that forces companies to reveal their financial dealings here and abroad, says a Canadian organization that works to improve transparency and accountability in resource extraction industries.
"Canada is a global leader in the energy and mining sectors, but not when it comes to demonstrating corporate openness," said Ousmane Dème, Publish What You Pay-Canada Coordinator. "It's time Canada lives up to its commitment to promote transparency in extractive industries by adopting similar rules as our largest trading partner."
To read more, click here.