EDC requests public input during a review of environmental and social risk management policies

OTTAWA, May 16, 2018 /CNW/ - In today's global economy, there is increased responsibility to consider social and environmental factors when companies conduct business. EDC is committed to ensuring it follows strong corporate social responsibility (CSR) practices, guided by a comprehensive framework.

Reviewing and implementing updates to the policies that govern EDC's approach is essential to ensuring they remain relevant, streamlined and aligned with its corporate strategy, the changing nature of its business, and the way in which business and international trade finance are being conducted globally.

"These policies are central to who we are as an organization," said Robert Fosco, Vice President, Environment and Corporate Responsibility at EDC. "Ensuring they remain as effective as possible is integral to our long-term strategy, and at the heart of our vision to help Canadian exporters thrive as leaders in sustainable and responsible business."

While CSR at EDC has a broad scope, a fundamental element of its framework is a commitment to doing business in a socially and environmentally responsible way.

EDC is now inviting stakeholders from across the Canadian trade and business ecosystems to offer input and constructive feedback on the following key policies under its environmental and social risk management framework:

1. Environmental and Social Risk Management (ESRM) Policy
2. Climate Change policy
3. Environmental and Social Review Directive (ERD)
4. Human Rights Statement
5. Disclosure Policy

A discussion paper has been published, and a dedicated webpage has been created to further explain the review process.

Submissions are welcome during a 90-day comment period from May 14 ? Aug 17, 2018.  

To foster transparency, submissions received from stakeholders will be posted to the EDC website. EDC will issue a Public Response Paper when the revised policies are released that summarizes the main areas of feedback with a high-level description of how EDC incorporated that feedback in the policy review outcomes (or, if not, why not).

About EDC

Export Development Canada (EDC) is a Canadian financial Crown Corporation and Canada's export credit agency. We manage and take on risk, with our financing, insurance, and knowledge solutions, helping Canadian businesses and investors to grow internationally. As part of our work, we strive to ensure that Canadian companies are internationally recognized as leaders in sustainable and responsible business. This gives them a competitive advantage, enabling them to succeed and make their mark on the global playing field. We also support Canadian direct investment abroad and investment into Canada. Much of our business is done in partnership with other financial institutions and through collaboration with the Government of Canada.

SOURCE Export Development Canada