Above Ground and sixteen other civil society groups are calling for improvements in accountability and transparency at Export Development Canada as the government reviews the agency’s governing legislation.
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.
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.
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.
Hats off to The Globe and Mail for its reporting on Bombardier’s dealings in South Africa. Without it, Canadians may never have learned of allegations of corruption surrounding two South African contracts landed by the firm.
Export Development Canada has perfected the art of lending billions of taxpayer dollars to scandal-ridden foreign buyers. But its transparency could use some work.
By Richard Poplak | Published in The Walrus
Earlier this year, Export Development Canada (EDC) was tasked with running Canada’s new Development Finance Institute. In its new role financing private investment for the purposes of poverty alleviation and sustainable development, EDC will need to adopt robust due diligence practices to ensure the investments it supports respect human rights and the environment.
A Canadian deal to finance a luxury Bombardier jet for a controversial South African business family has cast a fresh spotlight on secrecy policies at the federal government’s export credit agency.
By Geoffrey York | The Globe and Mail
Above Ground works to ensure that companies based in Canada or supported by the Canadian state respect human rights and the environment worldwide. It is a project of MakeWay, a national charity that builds partnerships and solutions to help nature and communities thrive together.
Above Ground c/o MakeWay
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