Export Development Canada

Export Development Canada

The 10-billion dollar elephant in the room

As leaders of the world’s richest countries gather at the G7 summit today, Canada’s prime minister intends to push for a commitment on climate change in the meeting’s final statement. But the government’s slow progress on a 2009 pledge to eliminate fossil fuel subsidies raises questions about Canada’s own commitment to cut emissions.

Protestor deaths draw attention to years of misconduct by EDC client Vedanta

Last month 13 people protesting the expansion of a copper smelter owned by Vedanta Limited were shot and killed by police in the Indian state of Tamil Nadu. Vedanta Ltd. is financed by the Canadian government despite being blacklisted on human rights and environmental grounds by many investors.

Auditor general finds stunning deficiencies in risk management at Canada’s export bank

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.

Report calls for overhaul of anti-corruption screening at Export Development Canada

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.