In this case, it does apply in the domestic context as well.
Prime Minister Cameron, when he asked G-8 leaders to support the common global standard, pointed to a lot of corruption that's happening in developing countries. For example, in Nigeria, they went through a process whereby they determined that over $8 billion had gone missing. This was determined through the extractive industry's transparency initiative, which reconciles the payments industry makes to government with what government says they receive. They went through that process and determined that over $8 billion had gone missing. They've recovered most of it, although there's just less than a billion that they're still searching for.
But Prime Minister Cameron also asked that leaders walk the talk and apply it in the domestic context as well. In this case, Canada, along with other G-8 leaders, agreed to implement these standards. It affects them both domestically and abroad to create a level playing field in the global context.