OTTAWA -- June 23, 2005 -- Export Development Canada (EDC) today issued its first Corporate Social Responsibility (CSR) Annual Report, a formal evolution of its commitment to integrate CSR values into its day to day operations. EDC also released its third Chief Environmental Advisor's Annual Report, reporting on transactions in 2004 that were subject to environmental reviews.
EDC is proud to have taken our CSR commitments to the next level by issuing its first ever CSR Annual Report, which was developed through benchmarking against other CSR reports and international best practices, as well as consulting with CSR experts and our stakeholders, said Rob Wright, President and Chief Executive Officer. The 2004 Report is a marked evolution of our ongoing commitment to CSR, and is a sound platform from which our reporting will progress.
The CSR Report focuses upon EDC's efforts and accomplishments in the areas of business ethics, transparency, environment, community involvement and organizational climate. EDC analyzed and commented upon the results of the Auditor General Special Examination Report, which reviewed CSR program and demonstrated the Corporation's solid performance in this area.
The CSR Report also establishes the criteria by which CSR performance will be measured, providing for quantifiable data for the 2005 report. In all, 13 performance measures were created to clearly identify how EDC intends to carry out its mandate in 2005 in a socially responsible manner consistent with our corporate values.
In the 2004 Chief Environmental Advisor's Report, EDC released corporate performance in the two key areas of environmental review and outreach/business development activities. EDC identified actions resulting from the key findings of the Auditor General's 2004 review of EDC's environmental review practices, which noted major improvements in the area of environmental review over a similar audit conducted in 2001. EDC also reported upon 11 transactions that were subject to its Environmental Review Directive.
In 2004, EDC continued its partnership with international financial institutions to push for greater harmonization of global environmental standards, said Art FitzGerald, Chief Environmental Advisor. Our positive results in transactional environmental review reflects diligence and hard work in a team effort by environmental specialists and our business teams, in addition to strong support from our legal departments and senior management.
Through the EnviroExport Initiative, EDC's trade finance and risk management services helped 249 mostly small- and medium-sized Canadian companies to achieve $825.5 million in export sales of environmental goods and services. Most of these exports went to markets in Africa and the Middle East, and in North America and the Caribbean.To view the Chief Environmental Advisor's 2004 Annual Report visit: http://www.edc.ca/environment, and to view the Corporate Social responsibility Report, visit http://www.edc.ca/csr.EDC is a Crown corporation that provides trade finance and risk management services to Canadian exporters and investors in up to 200 markets worldwide.-30-Media ContactPhil Taylor EDC-Public AffairsTelephone: (613) 598-2904email: ptaylor@edc.ca
