$102.3 billion
in total business conducted by our customers with the help of EDC solutions
14,970
companies used at least one of EDC’s knowledge products, up 92% compared to 2019
$4.55 billion
in total business support provided to cleantech companies, up 80% compared to 2019
Business facilitated
Through our range of financial solutions, we supported $102.3 billion in exports, foreign investment and trade development activities in 2020. This included $23.7 billion in business facilitated in emerging markets, which compared to $28.4 billion in 2019.
Our insurance program helped over 7,600 customers close approximately $81 billion in export sales with almost 101,000 buyers located around the world. More than 72 per cent of this business was credit insurance, which helps companies mitigate credit risk and leverage their receivables with financial institutions to unlock more short-term financing. Learn more
Financial transactions: micro, small and medium-sized customers
EDC places a strong emphasis on supporting small and medium-sized customers (SMEs) with their trade activities in countries around the world. In 2020, we facilitated 9,849 financial transactions, which included 3,120 transactions with micro customers; 4,889 transactions with small customers; and 1,840 transactions with medium-sized customers.
The number of financial transactions rose from 7,525 in the previous year, reflecting the business environment in 2020 and EDC’s introduction of new programs in support of Canadian businesses during the pandemic crisis. Learn more
Total customers served
We witnessed significant demand for our financial and knowledge solutions, resulting in 24,305 customers served in 2020 – up by 45 per cent from 2019, when we served 16,807 customers.
More than 12,200 customers purchased one of EDC’s financial products, which is an increase of 35 per cent over 2019. Included in these customers were approximately 2,870 Canadian companies that used both financial and knowledge products. On top of the 12,200, an additional 14,970 Canadian companies used at least one of EDC’s knowledge products, which was up 92 per cent compared to 2019. Learn more
Regional highlights
The resilience of major Canadian investors and exporters was reflected in the international activity we supported. Canadian pension plans, in particular, were looking to deploy assets and diversify into the world’s fastest-growing regions.
EDC’s support was especially valuable in the renewable energy sector. For example, we committed our participation to the development of a 605 MW offshore wind farm in Taiwan, EDC’s first such project in this market. Similarly, EDC signed its first sustainability-linked loan in Chile, tying interest rates to fixed sustainability performance targets such as the reduction of greenhouse gas (GHG) emissions, and thereby furthering our commitment to integrating climate change considerations into our business decisions. Learn more
Climate action
EDC’s large and diverse portfolio includes companies operating in carbon-intensive sectors, as well as businesses at the leading edge of cleantech. In 2020, we achieved an important milestone well ahead of schedule by meeting our 2023 target to reduce our lending exposure to these sectors.
We also increased our support of Canada’s burgeoning cleantech industry. The number of cleantech companies served in 2020 grew by 27 per cent compared to 2019, to 288 businesses, and we facilitated $4.55 billion in business – an 80 per cent year-over-year increase. Learn more
Success story: Petro-Techna International
Since working with EDC’s environmental, social and governance (ESG) team, Petro-Techna International – a Toronto-based company that provides engineering, procurement, fabrication and construction services for businesses in the oil and gas industry – has created a comprehensive employee handbook which clearly outlines its Human Rights Policy, as well as other policies that cover anti-discrimination, anti-bribery and sustainable operations.
Petro-Techna has also become a member of the UN Global Compact and, as part of its commitment to keeping ESG top of mind, publishes a quarterly sustainability newsletter for employees and external stakeholders that outlines the steps the company is taking to become more sustainable. Read the full story in our annual report.