A Report Card On Canada's New Extractive Sector Transparency Measures Act

Canada has committed to becoming a leader in the international movement to promote ethical business practices and fight corruption. At the 2013 G8 leaders’ summit in Northern Ireland, Canada announced that it would take action to enhance the transparency of payments to governments made by Canadian extractive companies by introducing mandatory reporting. The resulting legislation, the Extractive Sector Transparency Measures Act (ESTMA), came into force on June 1, 2015.

With all companies subject to ESTMA now having been required to submit their first report of government payments related to the extraction of oil, gas or minerals, the federal Department of Natural Resources (NRCan), which is responsible for administering ESTMA, is now analyzing the first reporting cycle with an eye to increasing uniformity in reporting and to address feedback from stakeholders regarding reporting challenges and uncertainties. NRCan is expected to provide updated guidance in early 2018.