In 2006, there was a round table process that resulted in a multipartite agreement to have a tougher regime for Canadian companies that involved a kind of ombudsman with investigative power. That was originally agreed to by the mining industry. Having not been involved in any of that, what I understand from reading is that some players in the industry decided they no longer supported that arrangement, and the Harper government decided to go for a lighter version that was based around promoting CSR standards but without any disciplinary mechanism.
Evidence of meeting #73 for Subcommittee on International Human Rights in the 42nd Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was firms.
A recording is available from Parliament.