$13.6 billion
lending exposure to carbon-intensive sectors, down from $19 billion in 2020
266
transactions underwent human rights risk screenings
56%
of EDC leadership roles held by women
ESG approach
At EDC, we share a fundamental belief that good environmental, social and governance (ESG) practices are key to our organization’s sustainability, to the long-term success of Canadian companies and to Canada’s international competitiveness and continued prosperity.
Four objectives underpin our approach to ESG:
- Make ESG a prominent and standard feature across the organization
- Support customers in considering ESG in the evolution and competitiveness of their business
- Demonstrate leadership among export credit agencies and influence among financial institutions
- Provide additional support for growing and emerging sectors of the Canadian economy in alignment with strong ESG principles and practices
While continuing to refine our ESG Strategy in 2021, we made significant progress on a robust agenda to strengthen our practices and invest in capabilities to help Canadian companies do the same.
Committed to climate action
Climate change is the most pressing and complex issue of our time, presenting risks to our business, our customers, the environment and society. At the same time, there’s the possibility—even the responsibility—to collaborate and innovate to enable a sustainable future.
In July 2021, we were the first export credit agency to make a net zero commitment, and we are dedicated to working collaboratively to achieve the transition to a net zero future together.
Building a more equitable world
We’re taking deliberate action in our workplace and communities to help build a more equitable and inclusive society that enables everyone to flourish. In 2021, we began activating a five-year inclusion, diversity and equity (ID&E) strategy, which focuses on the employee experience. Learn more
Driven by a passion for helping and a desire to create a better future, our employees also stepped up to support their local and global communities.
Stakeholder engagement
As a bridge between the public and private sectors, EDC plays an important role in convening diverse groups to solve the big problems faced by Canadian businesses and society at large. Learn more
Inclusive trade
Companies owned or led by women, Indigenous Peoples, Black and racialized Canadians, people with disabilities and those from the LGBTQ2+ community face systemic issues that make it harder to run their business and scale successfully.
We believe that targeted support for these important contributors to the Canadian economy is essential at this time. We’re taking steps to ensure that our solutions are relevant and accessible, and will enable companies to realize their international growth potential with confidence.
Elevating human rights
Respecting internationally proclaimed human rights is central to our responsibility as an export credit agency. In 2021, we strengthened our approach to managing the human rights risks and impacts we encounter in transactions and customer relationships. This included developing a suite of due diligence tools to operationalize our Principles on Leverage and Remedy.
Transparency
2021 was the second year of implementing our renamed and updated Transparency and Disclosure Policy, which sets out a framework for disclosing information about our business in a way that balances the confidentiality required by our customers with the details sought by interested Canadians. Learn more
Business integrity
With a mandate to help Canadian companies do business in some of the most challenging markets in the world, it’s critical for EDC to have strong policies, guidelines and controls related to business integrity and to live up to them in every instance.
In 2021, we completed an ethics risk assessment, marking our first external assessment of our ethics-related programs. EDC compared well against global industry peers, some of whom had been ranked by Ethisphere as being among the “world’s most ethical companies.” Learn more
EDC success stories
Cheekbone Beauty: Drive to succeed
To honour her Anishinaabe roots, Jenn Harper created Cheekbone Beauty to give Indigenous Peoples a space in the cosmetics industry where they can feel represented and provide them with much-needed role models.
Celsia: Catalyzing commitment to respecting human rights
A renewable energy supplier based in Colombia, Celsia wants to ensure it’s doing what’s right for the planet and for people.