We are committed to the environment and people —from facilitating exports of Canadian environmental solutions to reviewing the environmental and social impacts of projects that we consider supporting.

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Environmental and Social Risk Management Framework

We understand that there are environmental and social risks involved in the business we support, and that it is critical to have strong procedures to identify and and manage these risks.

Our Environmental and Social Risk Management Policy Framework guides how EDC approaches this aspect of our business. The framework consists of our Environmental and Social Risk Management Policy and Guideline, Environmental and Social Review Directive (ESRD), Climate Change PolicyHuman Rights Policy and Disclosure Policy. The framework is further underpinned by various international agreements and standards, which influence EDC’s approach.

In 2018, EDC invited interested stakeholders to provide feedback during the review of its Environmental and Social Risk Management policy framework.

Climate change

Climate change is a significant and complex global challenge that presents a range of risks and opportunities to countries, businesses and individuals. If this challenge is to be addressed effectively, it will require action from all sectors of the global economy, as well as governments and individuals.

This Climate Change Policy provides the principles and commitments that guide EDC’s approach to the organization’s climate change-related risks and opportunities. It is intended as both an external-facing policy, and as an internal guide to EDC’s decision-making.

Human rights

Business, including export credit agencies, have a responsibility to respect human rights across their operations. To meet this responsibility, the United Nations Guiding Principles on Business and Human Rights (UNGPs) state that all businesses should have in place policies and processes to identify, prevent, mitigate and account for how they address their impact on human rights. 

EDC’s Human Rights Policy provides the principles and commitments that will guide EDC’s approach to respecting human rights and our internal decision-making in connection with the transactions we support. We have developed an Implementation Plan to provide details on what we already have in place and outline the key areas we are focusing on while implementing our Human Rights Policy. 

This new stand-alone Human Rights Policy replaces EDC’s 2008 Human Rights Statement, which is no longer in effect. 

International commitments

To help incorporate environmental risk assessment into officially supported export credits, we adopted and implemented the OECD recommendations on common approaches for environmental due diligence, an international multilateral consensus on environmental review practices that aims to level the international playing field and ensure that projects supported by export credit agencies meet established international environmental and social standards.

We also adopted the Equator Principles, a financial industry benchmark for determining, assessing and managing social and environmental risk in project financing. Further, we have made the International Finance Corporation's performance standards our dominant framework for environmental and social project performance.

Our annual report on the implementation of the Equator Principles is now available.

Learn more

EDC’s due diligence path

At EDC we are committed to sustainable and responsible business practices. Any company that is seeking corporate financing will be assessed through a review process called “due diligence”.

For more info on our due diligence process, click here.

Understanding the EDC project review process

This guide aims to provide you with a more detailed understanding of our review of environmental and social impacts, key components of EDC’s overall assessment of projects.

Click here for more information.

Operational footprint 

We consider the impact that our operations have on the environment and have taken steps to reduce our operational footprint, which we report publicly.

Click here for more information.

Guide for Canadian Companies

Apparel, Footwear and Textiles: For small- and medium-sized enterprises procuring goods or services from different suppliers in the apparel, footwear and textile sectors, you should consider whether any of your suppliers could be negatively impacting their employees or the surrounding environment. This document provides information about key considerations that could be included in your discussions and dealings with your suppliers.