Canada's export credit agency is reviewing its environmental and social risk management policies. Given the agency's repeated support for companies facing credible allegations of human rights abuse, environmental damage or other serious harms, such a review is long overdue.
Even as it claims to be working to “tackle climate change,” Canada's export credit agency continues to provide roughly 10 billion dollars in support to fossil fuel companies each year.
In May, 120,000 people in northwestern Colombia were endangered by the potential collapse of a hydroelectric dam being developed by Empresas Públicas de Medellín (EPM), a client of Canada’s export credit agency. EPM is currently under investigation for possible corruption and environmental damage linked to the project.
In May Indian police shot and killed 13 people who were protesting pollution from a copper smelter owned by Vedanta Ltd, a client of Export Development Canada (EDC). In this letter, we seek answers from EDC's President and Chief Executive Officer regarding the actions taken by the public agency to respond to the shootings and the harms caused by its client's operations.
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.
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.