As I said, in the early stage of my tenure as Minister of Natural Resources this has been a file on which we have been very busy meeting with my provincial counterparts, first nation leaders, and obviously the private sector.
Look, Canada is recognized as a world leader in promoting transparency and accountability in the extractive sector—that would obviously include mining and energy—right here at home and around the world.
In 2013 we announced plans to develop mandatory reporting standards. This exercise was to work in concert with the United States and Europe on some alignment around mandatory reporting standards. We're in the process of seeking relevant feedback from the provinces, territories, and aboriginal groups, as well as the private sector.
It will mean a level playing field for companies operating domestically and abroad, enhanced investment, and certainty in reinforcing the integrity of Canadian extractive companies. It will mean, most importantly, that citizens in resource-rich countries around the world will be better informed overall and understand the benefits from responsible resource development in their own countries, and to the extent that countries like ours are operating there, have a full appreciation for what is involved in those activities.