Above Ground has long questioned Export Development Canada’s assessment of environmental and human rights risks posed by its clients' operations. Now the auditor general is warning there are “significant deficiencies” in the agency’s overall management of risk.
Export Development Canada is mishandling loan risks and keeping board members in the dark about key financing arrangements, according to a scathing report by federal Auditor-General Michael Ferguson. By Barrie McKenna | The Globe and Mail
Legal and policy reforms are needed to bolster anti-corruption mechanisms at Export Development Canada (EDC), according to a report released today by Above Ground. The publication identifies key weaknesses in EDC’s anti-corruption screening procedures and names several EDC clients investigated and/or charged with corrupt practices.
Anti-Corruption and Export Development Canada: Recommendations for an Effective Policy and Improved Regulatory Oversight
In this report, we examine reforms needed to raise Export Development Canada’s anti-corruption client screening to a more robust standard. The recommendations are informed by leading anti-corruption policies and guidance documents from other export credit agencies, international financial organizations and the private sector.
With this submission, Above Ground and Justiça Global welcome the opportunity to address points raised by Kinross Gold and Export Development Canada in response to our report "Swept Aside: An Investigation into Human Rights Abuse at Kinross Gold's Morro do Ouro Mine."
Ongoing media coverage regarding the sale of a Bombardier jet to the Gupta family has triggered an important public debate about the accountability and transparency of Export Development Canada. With Parliament set to review EDC’s governing legislation this year, the timing for such a discussion could not be better.