(OTTAWA) August 1, 2007 Export Development Canada (EDC) today released its third Corporate Social Responsibility (CSR) Report. The CSR Report reviews EDC's performance and activities against a number of criteria and performance measures related to its commitment to operate in a socially responsible manner.
"2006 was a year to take stock of our CSR commitments, and we engaged with CSR experts to gather feedback on our efforts and to ensure that our commitments are evolving in step with the changing nature of our business," said Eric Siegel, President and CEO of EDC. "The 2006 CSR Report reflects this evolution and provides stakeholders with a unique opportunity to see EDC's CSR polices in action with profiles of complex transactions."
In 2006, EDC undertook a corporate-wide exercise to assess the progress of its CSR commitments and to gauge stakeholder expectations in areas such as human rights, transparency and the environment. This exercise also included a review of its performance measures to ensure they accurately reflect the evolution of EDC's CSR practices. EDC also reported upon the results of its corporate-wide Environmental Policy, introduced in 2005, which broadened the scope of its environmental review process.
The 2006 CSR Report features project profiles that concretely illustrate EDC's environmental review procedures, including EDC's facilitation of a copper mine in Africa, airport construction in Cyprus and equity financing for a wind energy project where the power will be exported to the USA.
Mr. Siegel also said that "understanding our customers' challenges, particularly in opportunity-rich emerging markets, allows us a better understanding of what CSR really means in global trade, day to day, and we continually apply that knowledge to advance our policies and maintain our high CSR standards."
The 2006 report is available online at: http://www.edc.ca/english/social_12892.htm. Printed copies can be requested via edcdirect@edc.ca.
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 6,400 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 has been named one of Canada's Top 100 Employers for six consecutive years.
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Media contact: Phil Taylor Public Affairs Export Development Canada (613) 598-2904 ptaylor@edc.ca
