Statement of support for the Resource Revenue Transparency Working Group (RRTWG)
The Resource Revenue Transparency Working Group (RRTWG) is a collaboration between two of Canada’s largest mining associations and civil society organisations, with the aim of creating a framework encompassing disclosure of payments to governments by Canadian extractive companies, operating both domestically and internationally. This level of transparency would not only contribute to the development of good governance and sustainable development in resource-rich countries, but would also provide investors with useful information in risk assessment. The engagement invited Canadian investors to write a letter of support for the Working Group, whereby providing critical momentum and improving the chances of success.
Finalised drafts of the framework were released in December 2013 and have resulted in the Government of Canada announcing plans for transparency. The federal government is giving provincial and territorial regulators until 1 April 2015 to implement mandatory reporting standards before it imposes a national framework.