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Canada's Export Credit Agency Releases Annual CSR Report: CSR in the New Reality

Submitted by: Export Development Canada

Categories: Corporate Social Responsibility, Research, Reports & Publications

Posted: Jun 03, 2013 – 01:03 PM EST

 

OTTAWA, ON, Jun. 03 /CSRwire/ - Export Development Canada (EDC), Canada's Export Credit Agency, today issued its Annual Report on Corporate Social Responsibility (CSR). 

The report chronicles EDC’s CSR activities in 2012, outlining how the Corporation has adapted to the new reality of international business, where global integration into emerging markets continues to increase. 

The report also captures EDC’s CSR key achievements this past year in both practice and policy, and presents important updates surrounding issues that impact key stakeholders including clients, employees and the public. 

“Without a doubt, the international trade environment today has become more integrated and complex than ever as companies look to find meaningful ways to grow in a still-sluggish global economy,” said Signi Schneider, Vice-President, CSR, EDC.  “That deepening integration also means that applying meaningful and relevant CSR analysis has also become equally complex for international financiers like EDC.”

The 2012 CSR report provides an overview of EDC’s financial transactions around the world and how EDC applied its CSR due diligence, including EDC’s first major project financing in India.

“Most organizations tend to link their CSR policies to compliance to international standards, but many are now recognizing that a compliance-based approach is often not up to the task,” added Ms. Schneider. “EDC has evolved beyond compliance in many areas of CSR to a more principles-based philosophy, because today there are no simple recipes when every situation is different.”

Also included in the report are concrete achievements and future commitments through a CSR Scorecard. Case studies and customer videos on managing the risk of corruption in international business offer meaningful insights through the experiences of Canadian companies that have faced these challenges.

Highlights of the 2012 report include:

  • Updates to the corporate Code of Business Ethics and the employee Code of Conduct
  • Signature of our first large Indian infrastructure project finance deal, working closely with the project sponsor to ensure that it satisfied international CSR standards
  • An updated and improved process for human rights assessments and increased efforts to raise awareness with customers of the risks of bribery and corruption
  • Assistance to Canada’s cleantech sector as a business priority, engaging more than 60 leading clean technology companies in 2012
  • EDC’s head office in Ottawa was granted LEED for Core and Shell Gold certification by the Canadian Green Building Council.

To contribute to the reduction of EDC’s operational footprint, the 2012 report is available online.  View EDC’s 2012 CSR Annual Report here: www.edc.ca/csrreport.

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 7,400 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.

For more information, please contact:

Yolanda Banks Senior Advisor, CSR
Phone: 613-598-2586
Phone 2: 613-852-8241
Fax: 613-2883906
Louise Millette Project Coordinator
Phone: 613-598-6887
Phone 2: 613-790-7213

For more from this organization:

Export Development Canada

 

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