EDC issues annual reports on corporate social responsibility and environmental review

News Release

OTTAWA -- June 1, 2006 -- Export Development Canada (EDC) today issued its second Corporate Social Responsibility (CSR) Annual Report, which evaluates the Corporation's integration of CSR principles into its day to day operations. EDC also released its Chief Environmental Advisor's Annual Report, reporting on environmental policy updates and transactions in 2005 that were subject to environmental reviews.
"This is the first time we have measured our CSR performance against specific measures," said Rob Wright, President and Chief Executive Officer. "This evaluation will enable us to continually monitor and improve our CSR performance."
The 2005 CSR Annual Report focuses upon EDC's efforts and accomplishments in the areas of business ethics, transparency, environment, community involvement and organizational climate. It reports on EDC's performance against measures created in 2004 in order to assess how EDC fulfills its social responsibilities in these areas.
A key accomplishment that is noted in both reports is EDC's adoption in 2005 of an updated and strengthened environmental policy framework, including an umbrella Environmental Policy, amendments to its Environmental Review Directive (ERD) and Disclosure Policy which had all been subject to a public comment period. The policy amendments heighten clarity and strengthen transparency across the entire corporation. They also reflect a balance between the needs of EDC's customers and its responsibilities for the environment and transparency.
In the Chief Environmental Advisor's Annual Report, EDC reports that a total of 20 project-related transactions had been assessed as meeting the criteria of the corporation's Environmental Review Directive (ERD) and were signed in 2005. The report also notes that EDC facilitated $1.24 billion in exports of environmental goods and services with 283 Canadian companies.
Both the 2005 Corporate Social Responsibility Annual Report and the Chief Environmental Advisor's 2005 Annual Report are available at www.edc.ca/mediaroom under the heading "Reporting."
Export Development Canada (EDC) is Canada's export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by 7,000 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and is a recognized leader in financial reporting, economic analysis and human resource management.
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Media contact:Phil TaylorEDC Public Affairs(613) 598-2904ptaylor@edc.ca

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EDC issues annual reports on corporate social responsibility and environmental review

News Release

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