At EDC, ensuring that we continue to serve our customers and other stakeholders in a responsible way includes implementing regular reviews and updates to the policies that govern our environmental and social risk management practices.
With a mandate to help Canadian companies do business in markets around the world, it’s critical that we have strong policies in place to help guide us in environmental, social and corporate governance, including in areas such as human rights and climate change.
The Environmental and Social Risk Management (ESRM) Policy Framework sets out EDC’s commitments and approaches to environmental and social risks when considering customer relationships and transactions. It also allows us to strive for high standards of risk mitigation, including monitoring projects we support.
The framework was last updated in 2022 and includes the following policies:
EDC solicits input from our stakeholders, who include, but aren’t limited to, our customers, the Government of Canada, civil society organizations, Canadian industry and trade associations, financial sector peers, members of the Canadian public, and our ESG Advisory Council for constructive feedback on these policies. The periodic review of our policies is an opportunity to ensure they align with stakeholder expectations, consider a broad range of perspectives, and reflect industry best practice.
For more on past reviews please see our policy review feedback page.
We welcome feedback, and EDC has many channels through which our stakeholders can engage with us. They include:
If you wish to speak with EDC directly about past reviews, all comments or inquiries can be emailed to ESRMPolicyReview@edc.ca.
The next review of the Environmental and Social Risk Management (ESRM) Policy Framework is scheduled for 2025.
Why are you doing this now?
Our commitments and practices have evolved a lot since these policies were last revised. We took the opportunity to undertake an official review to ensure our policies remain relevant to our current state and continue to evolve.
How do I obtain a copy of the policies under review?
You can find a link to each policy under review at the top of this page. We welcome you to explore more information about Environmental, Social and Governance at EDC.
What is included in the scope of this review?
The focus of the review was on the environmental and social risk management policies that are part of our ESRM framework.
The scope didn’t include other policies in this review.
Will all comment submissions be made publicly available?
Stakeholders may request their submissions remain confidential.
Where can I see feedback that has already been given?
Feedback will be posted to the submission section, unless a stakeholder has requested their submission remain confidential.
How long will the comment submissions be made publicly available?
Submissions will remain on the website until the conclusion of the review process and disclosure of the revised policies.
When providing feedback, do I have to follow the questions specifically provided in each annex?
No. The questions provided are examples of where EDC needs feedback, but your input isn’t limited to these issues.
What will the outcome(s) of this review be?
After a thorough consideration of all feedback, EDC will rework the policies listed. Once the changes have been finalized, a public response paper will be issued, summarizing the main areas of feedback and providing a high-level description of how the feedback was incorporated in the policy review outcomes (or, if not, why not).
When can I expect to see the outcome(s) of this review?
Our goal is to issue revised policies under the scope of this review by the end of 2023.
What if I have feedback that isn’t related to the policies under review?
We welcome feedback, and EDC has many channels through which our stakeholders may engage with us. They include:
I wish to speak with EDC directly about this review. Who can I contact?
All comments or inquiries can be emailed to ESRMPolicyReview@edc.ca.
EDC’s overarching policy that sets out our commitments and approaches for environmental and social risk management.
A requirement of the Export Development Act, the directive is one of the processes through which we manage environmental and social risks for project-related reviews.
Provides the strategic foundation of our commitments to address climate-related risks and opportunities through measurement, engagement, green financing, risk management systems and reporting.
Drives our approach to human rights, including decision-making for the transactions we support and the actions we take.
Sets out the framework for how we disclose information about our business in a manner that balances the confidentiality required by our customers with the information sought by interested Canadians.
In line with our commitment to transparency, stakeholder submissions will be posted to our policy feedback page. When the updated policies are released, EDC will publish a public response paper, summarizing the main areas of feedback with a high-level description of how EDC has considered the feedback in the policy review outcomes.
Explore policies, reports and other reference materials related to environmental, social and governance practices at EDC.