Canada - ESTMA
The Canadian Government’s Extractive Sector Transparency Measures Act (the “Act” or “ESTMA”) was enacted on December 16, 2014 and brought into force on June 1, 2015. The Act delivers on Canada’s international commitments to contribute to global efforts to increase transparency and deter corruption in the extractive sector. The Act requires extractive entities in Canada to publicly disclose, on an annual basis, cash payments made to all governments in Canada and abroad. (Note that ESTMA report information does not tie with annual financial information due to it being limited to extractive activities, on a cash basis and includes paymnets made on behalf of joint venture partners).
The legislation is administered by Natural Resources Canada (NRCan). ESTMA legislation and more information on NRCan’s activities, including links to all filed ESTMA reports, can be found on NRCan’s website.
United Kingdom Payments to Government Act
The Government of the United Kingdom and Northern Ireland has enacted The Report on Payments to Governments regulation 2014 No.3209. The legislation is very similar to Canadian ESTMA legislation and requires UK companies and their subsidiaries to report payments made in regard to the extraction of minerals (including crude oil and natural gas) and logging activities. Reports are filed with Companies House and available on their website.
Extractive Industries Transparency Initiative
The Extractive Industries Transparency Initiative (EITI) is a global non profit organisation that sets a global standard to promote the open and accountable management of crude oil, natural gas and mineral resources. Canadian Natural has operations in two EITI member countries, the United Kingdom and Côte d’Ivoire. EITI reports are prepared at a country level and available on the EITI website.
Connect With Us