Environmental and Social Responsibility Practices - Moving to a Global Level Playing Field
EDC established an Environmental Review Framework in 1999. Throughout the early fall of 2001, the Corporation held public consultations across Canada to strengthen that framework, leading to a public release on November 15, 2001 of a report summarizing the results of these consultations. With the assistance of a recognized expert consultant in environmental management practices, the Corporation will implement a strengthened Environmental Review Framework in 2002.
In addition, the Government of Canada tabled legislation in the fall of 2001 that establishes a legal requirement for the review of projects that EDC supports as part of amendments to the Export Development Act.
Over the past couple of years, there has been a global trend towards an increase in the social and environmental requirements of multilateral/bilateral financial institutions and export credit agencies. More recently, this activity has focussed on capturing institutions that have not yet adopted similar requirements and, more specifically, on developing a convergence of the requirements from institution to institution.
The presentation will consist of an overview of the continuing global movement towards a common and consistent approach among the IFIs and ECAs along with a discussion of how EDC’s strengthened ERF fits within this initiative.
(please note that the presentation would be given by Mr. Arthur FitzGerald, Chief Environmental Advisor, Environmental Advisory Services, Export Development Corporation)