Canadian participation in the EITI involves roles for the Federal Government, for companies operating overseas, and for civil society. Canada participates in the EITI in recognition of the potential development benefits it can bring to resource-rich developing countries, and because of the importance Canadians attach to transparency. Canadian companies operating overseas recognize the importance of responsible corporate practices and of a transparent, rules-based regulatory environment.
Canada is an EITI supporting country which means that it helps promote more effective resource revenue management by providing policy advice and technical assistance to host country governments. It encourages Canadian multinational companies to participate in EITI and disclose company payments by country of operation. Canada also gives support to The EITI Multi-Donor Trust Fund which provides technical and advisory support to countries seeking to implement EITI (see Government section).
Canada is not an implementing country. There are existing regulations and financial disclosure requirement in place in Canada that support the transparency in taxation, royalties and other natural resource revenues. The federal government and provinces conduct budget consultations, follow international standards for reporting and disclosure and have their financial statements audited by independent public auditors. Such measures represent activities that an EITI implementing country would need to initiate.
Click the appropriate link below to obtain more information on the responsibilities of governments, companies and civil society in the EITI.