Submitted by: Export Development Canada
Posted: Nov 04, 2011 – 12:00 PM EST
OTTAWA, O.N., Nov. 04 /CSRwire/ - Export Development Canada (EDC) announced today that it was elected to the Steering Committee of the Equator Principles (EP) Association last week.
The Equator Principles are a financial industry benchmark for determining, assessing and managing social and environmental risk in project financing. Currently 73 financial institutions in 27 countries have officially adopted the EPs, covering over 70 percent of international project finance debt in emerging markets.
EDC first adopted the EPs in 2007, reflecting EDC’s ongoing commitment to conduct its international business in a socially and environmentally responsible manner. EDC is the first export credit agency and the first Canadian financial institution to be represented on the Steering Committee.
“Being part of the Equator Principle’s Steering Committee allows EDC to have a more direct hand in strengthening Corporate Social Responsibility internationally, over and above helping Canadian exporters and investors commit to international standards,” said Signi Schneider, Chief Corporate Social Responsibility Advisor, who oversees EDC’s CSR team.
“We believe in the merit of internationally recognized benchmarks no matter where in the world projects are financed, so EDC is honored by the election and the additional opportunity for leadership it brings to us.”
The EP Steering Committee is composed of 14 members that co-ordinate the administration, management and development of the EPs on behalf of the member financial institutions and associates.
For more information on the Equator Principles, click here.
EDC is Canada’s export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC’s knowledge and partnerships are used by more than 8,200 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and a recognized leader in financial reporting and economic analysis.
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