Cameco Corp

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Direct Lobbying Transparency

Overall Assessment	Comment	Score
Moderate	Cameco provides a moderate level of transparency on its climate-related lobbying. It names two specific pieces of Canadian climate legislation it has engaged on: “The proposed Clean Fuel Standard … under the Canadian Environmental Protection Act, 1999” and the “Management and Reduction of Greenhouse Gases (Standards and Compliance) Regulations, 2023 … Saskatchewan,” and it also refers to broader nuclear-advocacy work through the Net Zero Nuclear initiative. The company is clear about how and where it lobbies: it filed a formal submission to the U.S. Department of Commerce on uranium imports, undertook “direct participation … at engagement webinars on the proposed CFS,” provided “indirect participation … through the Mining Association of Canada and the Saskatchewan Mining Association,” and “engaged with the provincial government in Saskatchewan as the regulations were developed.” However, its disclosure of the specific outcomes it seeks is limited. Beyond stating a “neutral stance on the implementation of the CFS,” a wish to “help the regulator understand the opportunities and challenges faced by our industry,” and broad support for tripling global nuclear capacity by 2050, Cameco does not spell out concrete legislative changes, targets, or amendments it is pursuing on climate policy. As a result, while the company is forthcoming about the policies it addresses and the mechanisms and targets of its lobbying, it offers only general statements about the policy results it is trying to achieve.	2

Lobbying Governance

Overall Assessment	Comment	Score
Limited	Cameco Corp articulates that it “co-operate[s] and engage[s] with government bodies and regulatory agencies” including “direct lobbying on specific policy proposals” and through “industry or business associations such as the Saskatchewan Mining Association, the Mining Association of Canada, and the Canadian Nuclear Association,” and asserts that in all interactions it “conduct ourselves ethically and with the highest degree of integrity.” It also states it “actively collaborate[s] with six industry associations and various levels of government” to develop, review, and implement climate-related policy “in alignment with achieving Canada’s climate change goals” and confirms a public commitment “to conduct your engagement activities in line with the goals of the Paris Agreement.” However, the company does not disclose any formal oversight structure—such as a named individual or committee responsible for reviewing lobbying—or specific monitoring, review, or sign-off procedures to ensure that direct or indirect lobbying activities are systematically aligned with its climate policies.	1