| Website | http://www.edc.ca |
| Headquarters |
150 Slater Street
ON K1A 1K3 Ottawa
Canada
|
| CEO/chair |
Mairead Lavery President & CEO |
| Supervisor |
|
| Ownership |
Export Development Canada is fully owned by the government of Canada. |
Export Development Canada (EDC; French: Exportation et Développement Canada) is Canada's export credit agency. Its task is to support and develop Canada's export trade by helping Canadian companies. It is a self-financing, (Crown owned, in right of Canada) corporation that operates at arm's length from the government. It provides insurance and financial services, and bonding products to Canadian exporters and investors and their international buyers. It also supports Canadian direct investment abroad and investments in Canada. EDC signed the Equator Principles in 2007.
Export Development Canada's most important sustainability commitments can be found at the website sections listed below.
Export Development Canada is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Export Development Canada's link to these deals.
Export Development Canada operates a Compliance and Ethics Officer who receives and reviewes complaints from stakeholders.
Export Development Canada is an Equator Principles signatory. While the Equator Principles have no official grievance mechanism, complaints relating to this bank's financing of Equator Principles projects can be filed through our own website www.equator-complaints.org.
This page evaluates Export Development Canada's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".
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Export Development Canada's policies for forest-risk sectors (beef, soy, palm oil, pulp and paper, rubber and timber) have been assessed by the Forests & Finance coalition, achieving an overall score of 3 out of 10 and ranking it as a follower. Export Development Canada achieved a score of 0 out of 10 specifically for its policies related to the beef sector and 0 out of 10 for its policies related to the palm oil sector. Between 2016 and 2022, Export Development Canada provided USD 885 million in credit to companies operating in these forest-risk sectors. For more information, see the links below.
A bank can obtain a total of 10 points for the quality of its policies. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
A bank can obtain a total of 10 points for the quality of its beef policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
A bank can obtain a total of 10 points for the quality of its palm oil policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
