Export Development Canada Annual Report 2020

EDC 2020 Annual Report

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With the COVID-19 virus turning the world upside down in 2020, Canadians and Canadian businesses had to adapt to new realities and different ways of doing things.

At EDC, we stepped up to help more Canadian companies through these tumultuous times – whether or not they were exporters. We also made our biggest commitments yet to standing up for people and our planet. As the world recovers from the pandemic, we’re determined to help usher in a better way of doing business – one that is greener, more inclusive and sustainable.

24,305

customers served, up 45% compared to 2019

$102.3 billion

in total business conducted by our customers with the help of EDC solutions

9,849

financial transactions supporting micro, small and medium-sized companies, up 31% compared to 2019

Navigating turbulent times

Highlights

In a year where business was anything but usual, EDC was tasked with helping to stabilize and rebuild Canada’s economy.

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Essential worker in service and delivery industry wearing a face mask, walking through a warehouse taking inventory.

Stepping up for Canada

Our goal was to act swiftly and effectively, helping the highest possible number of Canadian businesses operating domestically and internationally.

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Businesswoman In Hijab holding folders at an office

Standing up for people and the planet

We believe that good business and good trade can contribute to a better Canada and a better world – but it takes more than good intentions to drive progress.

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The past year may not be remembered for its rosy headlines. But it was a year in which so many people in government, in business and in finance, public and private, pulled together. That co-operation was a positive story in 2020, and I’m confident it will continue to be in the year ahead.

Martine Irman — Chair

Martine Irman, Chair Export Development Canada

Message from the Chair:
Martine Irman

More change has taken place at EDC over the last year than in the previous five years combined.

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Mairead Lavery, President and Chief Executive Officer Export Development Canada

Message from the President and CEO:
Mairead Lavery

Not only did we facilitate the launch of important measures – like the Business Credit Availability Program and the Canada Emergency Business Account – we also found ways of stretching our operations and traditional business lines to help more Canadian companies.

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Sophie Roy, Vice-President, Corporate Sustainability and Responsibility Export Development Canada

Message from the Senior Vice-President, Sustainable Business and Enablement:
Justine Hendricks

In 2020, we achieved an important milestone well ahead of schedule by meeting our 2023 target to reduce our lending exposure to carbon-intensive sectors. In 2021, we plan to build on our momentum, elaborating on our efforts to address climate change with new targets.

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Justine Hendricks, Senior Vice-President, Sustainable Business and Enablement Export Development Canada

Our next 10 years

2020 marked the launch of EDC’s new long-term strategy, which is aimed at making an impact that truly matters to Canadians and to Canada’s trade competitiveness – such as helping businesses grow their trade revenues and diversify their trade, or spurring clean business models, or increasing the number of inclusive and diverse-owned businesses that are exporting.