Canada is adopting a G8 initiative that would require companies to disclose any payments they make to foreign governments.

As expected, Prime Minister Stephen Harper made the announcement today in London at a meeting with oil, gas and mining executives.

Leaders of the world’s eight richest nations pledged after their 2011 meeting in France to consider new rules that would allow for greater scrutiny of companies’ payments to foreign governments.

Critics say such measures are badly needed to expose corruption in countries with an abundance of natural resource riches.

Other countries, such as the United States and Hong Kong, already have similar measures in place.

(The Canadian Press)