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.
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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Vancouver, BC V6B 1H5
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