(OTTAWA) – June 9, 2009 – Export Development Canada (EDC) today welcomed the positive results of the Auditor General of Canada’s (OAG) review of its Environmental Review Directive (ERD), which found that EDC’s environmental processes reflected international best practices.
“EDC is pleased with the outcome of the OAG audit, which serves as an independent indicator of the quality and relevancy of EDC’s its environmental commitments,” said Eric Siegel, President and CEO of EDC.
The report noted that EDC continuously monitors environmental policy trends and that its policies and procedures were suitably designed and generally consistent with those of other G7 countries and OECD standards.
The report identified three recommendations on adding further reporting of existing procedures within EDC’s environmental practices. In the report, EDC has accepted and responded to these recommendations and identified how it intends to address them.
The Export Development Act requires the OAG to audit the design and implementation of the Corporation's Environmental Review Directive a minimum of every five years. This is the third audit of EDC's environmental commitments, following previous audits in 2001 (prior to the ERD’s implementation) and 2004.
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 more than 8,300 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining, a recognized leader in financial reporting and economic analysis, and has been recognized as one of Canada’s Top 100 Employers for eight consecutive years.
Phil Taylor
Export Development Canada
Tel: (613) 598-2904
Blackberry: ptaylor@edc.ca
