Australia and Canada have agreed to jointly enhance transparency and promote ESG standards.

The announcement follows discussions between the Minister for Resources and Northern Australia Madeleine King and Canada’s Minister for Energy and Natural Resources, Jonathan Wilkinson, in Toronto.

The ministers released a joint statement on critical minerals cooperation, outlining shared priorities for the extraction, processing and refining of critical minerals.

The statement reflects a non-legally binding understanding between the two nations to drive ESG efforts and support bilateral trade and investment in the mining and service sectors.

It extends to conducting joint research and development (R&D), facilitating research exchanges and investing in strategic areas.

Both countries have committed to continue improving engagement with indigenous communities, recognising their vital role in the mining sector.

The Australian minister highlighted the global shift towards green technology and the importance of recognising the high ESG standards upheld by the Australian resources sector.

She explained that consumers and investors around the world looking to reduce their carbon footprint and invest in green technology should understand the high ESG standards of the Australian resources sector.

King said: “Australia and Canada have a shared interest in promoting open and transparent markets for critical minerals, which are crucial for clean energy technology that will help the world lower emissions and address climate change.

“Following our talks in Toronto, our two countries have agreed to advocate for robust ESG credentials to be built into global critical minerals supply chains and drive transparent and traceable supply chains.

“Prices paid for Australian minerals need to recognise the high ESG standards the Australian industry adheres to and the fact that Australian workers enjoy good working conditions and the highest safety standards.”