There is a lot of talk, but little action on increasing the transparency of one of Canada’s most important sectors – extractive industries.
As a part of the 2013 Community Dialogues of St. Mary’s University, IMPACT's (Integrity Management and Promoting Accountability and Transparency) President will discuss Canada’s Obligations Towards Extraction Industry Transparency. Join us at the Alderny Gate Library October 30, 2013 from 18:00 – 20:00. Free to attend. Please register at http://www.smu.ca/academic/conted/community-dialogues.html
The Canadian Government has recently affirmed its commitment to transparency and accountability by pledging to enhance mandatory disclosure standards for Canadian extraction companies. However, since 2007, Canada has only supported Extractive Industry Transparency Initiatives (EITIs) abroad, failing to introduce legislation that would require domestic companies to comply.
A voluntary, multi-stakeholder initiative, the EITI is comprised of companies, civil society groups, investors, international organizations and their respective governments who sign up for their implementation, aiming to create more accountability, transparency and a stronger sense of governance.
With the growing importance and reliance on extractive industries in Atlantic Canada, IMPACT seeks to kick off an Extractive Industry Transparency Program in the Atlantic provinces. With the collaboration of public demand, private stakeholders and government co-operation, it is possible to reduce the threat of corruption and enhance transparency and accountability in the oil, gas and mining sectors.