Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements...

24
Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility Advisor Presented to Canada-South Africa Chamber of Business and MineAfrica Seminar, Toronto 22 October 2009

TAGS:

Transcript of Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements...

Page 1: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements

Yolanda BanksSenior Corporate Social Responsibility Advisor

Presented to Canada-South Africa Chamber of Business and MineAfrica Seminar, Toronto 22 October 2009

Page 2: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

Our mandate:

Created in 1944, EDC is a Crown Created in 1944, EDC is a Crown corporation that operates on corporation that operates on commercial commercial principlesprinciples. Our mandate is to provide . Our mandate is to provide trade financetrade finance services to support Canadian services to support Canadian exporters and investors in some exporters and investors in some 200 200 marketsmarkets, 130 of which are in developing , 130 of which are in developing markets.markets.

Role of Export Development Canada (EDC)

Page 3: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

Role of EDC (cont’d) ** indicates products most used in Africa

Our Basic Products and Services:

Credit Insurance

Medium- and Long-Term Financing – including Project

Finance**

Bonding

Political Risk Insurance*** - including non-honouring

sovereign PRI

Equity

Page 4: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

4

EDC Business Volumes – support for business in Sub-Saharan Africa

2009 (August YTD)

2008 2007

Contract Insurance and Bonding (CIB)

46,515,500 58,133,665 115,218,871

Financing (FIN) 165,843,283 53,927,613 355,580,739

Political Risk Insurance (PRI)

564,211,411 517,350,443 1,011,017,082

Short-term Credit Insurance (STI)

187,182,084 335,050,573 112,300,371

TOTAL 963,752,278 964,462,294 1,594,117,064

Page 5: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

Recent Sub-Saharan Africa - Project Finance Deals Ambatovy Nickel Mine, Sherritt International (Madagascar)

The Ambatovy nickel and cobalt mine in Madagascar is expected to employ 1,900 Malagasy workers duringconstruction and 1,600 during operation. Photos courtesy Sherritt International Corporation

Page 6: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

Recent Sub-Saharan Africa - Project Finance Deals Lumwana Copper Project, Equinox Minerals (Zambia)

As part of a Category A environmental review, members of EDC’s Environmental Advisory Services group conducted a site visit of the Lumwana Copper mine in Zambia in March 2006. Photo courtesy Equinox Minerals

Page 7: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

Recent Sub-Saharan Africa - Other Financing

2009South Africa Nedbank Ltd.

Financing Sale of Telecommunication Equipment and Services

$100 - 250 million in favour of Ericsson Canada Inc. + other exporters

2008TanzaniaMIC Tanzania Limited

FinancingTelecommunications equipment and related services

$15-25 millionin favour of Ericsson Canada Inc.

2009Zambia Développement International Desjardins Inc.

Financing Support of foreign direct investment(FDI) $< 1 million

Page 8: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

Recent Sub-Saharan Africa – Bank Guarantees

2008MauritaniaCaisse Desjardins du Marigot de Laval

Guarantee for Sale of various Canadian goods and services

$ < 1 millionFlexexportation Inc.

2008Congo (Kinshasa)La Banque Royale du Canada

Guarantee for Sale of school manuals

$< 1 millionBeauchemin International Inc.

2008EthiopiaBank of Montreal

Guarantee for Sale of engineering services

$< 1 millionHydrosult Inc.

Page 9: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

EDC’s CSR Statement of Commitment

At EDC we commit to carry out our mandate in a socially responsible

manner consistent with our corporate

values.

Page 10: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

Our Commitments

CSR is an operating principle at EDC

Reflects HOW we execute our mandate

CSR @ EDC

Page 11: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

CSR @ EDC: key elements

1. Combating Corruption

2. Environmental Review

3. Transparency

4. Human Rights Analysis

How CSR Impacts EDC Customers

Page 12: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

1. What you need to know -- Combatting corruption

Customer declarations

Awareness-raising

Documentary safeguards

Due diligence

Remedial actions

Concerted action: OECD Export Credit Group

Page 13: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

2. What you need to know -- Environmental (and Social) Review

We assess the environmental impacts of all business transactions

International Agreements: OECD + Equator Principles, (joining the five largest Canadian banks -- representing 80%+ of the world’s project finance market), EDC’s Environmental Review Directive (ERD)

Use international standards, e.g. IFC’s Performance Standards for Social and Environmental Sustainability, World Bank’s Safeguard Policies

Environmental Policy

Page 14: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

2. Environmental (and Social) Review (cont’d)

For Non-Project Transactions:

Risk Assessment, including environmental, social and reputational risk

Using publicly available sources of environmental and social information, e.g. SEC filings, compliance records, CSR / Sustainability reports, indices (Dow Jones Sustainability Index, Jantzi Social Index)

Team of specialists: environmental / social and reputation risk

Page 15: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

Environmental (and Social) Review (cont’d)

For Projects (Due Diligence Requirements):

Documentation

Comprehensive Environment and Social Impact Assessment (ESIA) -- including Stakeholder Engagement Strategies, social risks: labour & working conditions

Environment and Social Management Action Plan

Resettlement Action Plan

Biodiversity Action Plan

Site visit by EDC Specialists

Independent expert review

EDC disclosure

Environmental covenants

Ongoing monitoring

Page 16: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

Disclosure of Information

● Commitment to transparency:

“At EDC, we strive for balance between public accountability and respect for customer confidentiality”

● Disclosure Policy that governs release of customer information

● Federal Access to Information Act with protection of commercially confidential information

Transparency

3. What you need to know -- Transparency

Page 17: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

Disclosure on Category ‘A’ Projects: ex-ante and ex-post (before & after signing)

Page 18: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

Disclosure on Category ‘B’ Projects: ex post (after signing)

Page 19: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

Disclosure on All Financing Support: ex post (after signing)

Page 20: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

4. What you need to know -- Human Rights Analysis

“EDC values human rights and promotes the protection of internationally recognized human rights, consistent with the policies of the Government of Canada.” 

Source: EDC Code of Business Ethics

Statement on Human Rights, April 2008

Analysis conducted by Political Risk Assessment Department (PRAD)

Project analysis: two-way impacts -- on the project and of the project on the human rights situation

Information sources: DFAIT reports, other sources of intelligence

Page 21: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

4. Human Rights Analysis (cont’d)

What we are looking for from customers:

Largely, although not exclusively, affects extractive companies

Looking for:

– a heightened awareness of the issues, demonstrated sensitivity to how human rights impacts the project and how the project impacts the local human rights situation

– Reference to application of the Voluntary Principles on Human Rights and Security -- part of EIA under IFC Performance Standard #4: Health, Safety & Security

Emerging best practice: Human Rights Impact Assessments

We can be helpful to youWe can be helpful to you

Page 22: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

Conclusion

CSR = Risk Mitigant

Page 23: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

Contact Information

International Business Development

Africa, Europe and Middle East

Patricia Bentolila, Chief Representative – Africa and Middle East

Tel: (613) 598-3219 Fax: (613) 598-2503 Email: [email protected]

Anne-Marie Gagnon, Regional Manager – Africa and Middle East

Maghreb and West AfricaTel: (613) 597-8864 Fax: (613) 598-2503

Email: [email protected]

mailto:[email protected]
mailto:[email protected]
Page 24: Export Development Canada (EDC) Financial Services – Corporate Social Responsibility Requirements Yolanda Banks Senior Corporate Social Responsibility.

Your Questions

For more information, consult:

Pour plus de renseignements, consultez:

www.edc.ca/csr

www.edc.ca/rse

[email protected]

TEL: 613-598-2586

http://www.edc.ca/csr
http://www.edc.ca/rse
mailto:[email protected]

Capgemini UK Corporate Responsibility & Sustainability ... · Capgemini UK Corporate Responsibility & Sustainability Report (2015-2016) CORPORATE RESPONSIBILITY & SUSTAINABILITY.

Capgemini UK Corporate Responsibility & Sustainability ... · Capgemini UK Corporate Responsibility & Sustainability Report (2015-2016) CORPORATE RESPONSIBILITY & SUSTAINABILITY.

CORPORATE RESPONSIBILITY REPORT 2010...CO CORPORATE RESPONSIBILITY

CORPORATE RESPONSIBILITY REPORT 2010...CO CORPORATE RESPONSIBILITY

Fiscal 2011 Corporate Responsibility Report Our Shared Journey · Fiscal 2011 Corporate Responsibility Report 1 Contents 2 Corporate Responsibility Policy 3 Corporate Responsibility

Fiscal 2011 Corporate Responsibility Report Our Shared Journey · Fiscal 2011 Corporate Responsibility Report 1 Contents 2 Corporate Responsibility Policy 3 Corporate Responsibility

Corporate Social Responsibility & Gambling Industry: … · Corporate Responsibility Research Conference, ... Corporate Social Responsibility & Gambling Industry: An Exploratory Study

Corporate Social Responsibility & Gambling Industry: … · Corporate Responsibility Research Conference, ... Corporate Social Responsibility & Gambling Industry: An Exploratory Study

IMPLEMENTASI CORPORATE SOCIAL RESPONSIBILITY … fileIMPLEMENTASI CORPORATE SOCIAL RESPONSIBILITY DALAM ...

IMPLEMENTASI CORPORATE SOCIAL RESPONSIBILITY … fileIMPLEMENTASI CORPORATE SOCIAL RESPONSIBILITY DALAM ...

2013 Corporate Social Responsibility Report - … · This Corporate Responsibility Report contains forward-looking statements ... 2012 Corporate Social Responsibility ... measurements

2013 Corporate Social Responsibility Report - … · This Corporate Responsibility Report contains forward-looking statements ... 2012 Corporate Social Responsibility ... measurements

Corporate Social Responsibility...Corporate Social Responsibility Report 2 Corporate Social Responsibility Annual Report 2009 2 Annual Report 2009 Social Responsibility Policy. Principles

Corporate Social Responsibility...Corporate Social Responsibility Report 2 Corporate Social Responsibility Annual Report 2009 2 Annual Report 2009 Social Responsibility Policy. Principles

TNT Express Services UK & Ireland Corporate Responsibility … · TNT Express Services UK & Ireland Corporate Responsibility Report | 2010 | TNT & Corporate Responsibility TNT & Corporate

TNT Express Services UK & Ireland Corporate Responsibility … · TNT Express Services UK & Ireland Corporate Responsibility Report | 2010 | TNT & Corporate Responsibility TNT & Corporate

TSUMURA Environmental and Corporate Social Responsibility ... · Environmental and Corporate Social Responsibility Activities Report ... and Corporate Social Responsibility Activities

TSUMURA Environmental and Corporate Social Responsibility ... · Environmental and Corporate Social Responsibility Activities Report ... and Corporate Social Responsibility Activities

Corporate Social Responsibility (CSR) @ EDC · Sustainability Corporate Citizen Corporate Integrity Corporate Social Responsibility Corporate Responsibility . 4 Statement of Commitment

Corporate Social Responsibility (CSR) @ EDC · Sustainability Corporate Citizen Corporate Integrity Corporate Social Responsibility Corporate Responsibility . 4 Statement of Commitment

[Shiseido’s Corporate Social Responsibility] · Shiseido's Corporate Social Responsibility Back Issues 2010 [Shiseido’s Corporate Social Responsibility] "Beautiful Society, Bright

[Shiseido’s Corporate Social Responsibility] · Shiseido's Corporate Social Responsibility Back Issues 2010 [Shiseido’s Corporate Social Responsibility] "Beautiful Society, Bright

Communicating Corporate Social Responsibility to … Corporate... · Communicating Corporate Social Responsibility to Internal ... Corporate Social Responsibility to internal stakeholders:

Communicating Corporate Social Responsibility to … Corporate... · Communicating Corporate Social Responsibility to Internal ... Corporate Social Responsibility to internal stakeholders:

Corporate Social Responsibility: Issues and Implementation ... · Corporate Social Responsibility: Issues and Implementation ... Corporate Social Responsibility: Issues and Implementation

Corporate Social Responsibility: Issues and Implementation ... · Corporate Social Responsibility: Issues and Implementation ... Corporate Social Responsibility: Issues and Implementation

Corporate Responsibility Report 2011 · 2018. 5. 11. · 2011 Corporate Responsibility Report Corporate Responsibility Report 2011 Corporate Responsibility Report European Investment

Corporate Responsibility Report 2011 · 2018. 5. 11. · 2011 Corporate Responsibility Report Corporate Responsibility Report 2011 Corporate Responsibility Report European Investment

Corporate Responsibility at Allianz · Corporate Responsibility at Allianz ... Group Communications and Corporate Responsibility . Group Investor Relations ... Framework outlining

Corporate Responsibility at Allianz · Corporate Responsibility at Allianz ... Group Communications and Corporate Responsibility . Group Investor Relations ... Framework outlining

CORPORATE SOCIAL RESPONSIBILITY AND CORPORATE …

CORPORATE SOCIAL RESPONSIBILITY AND CORPORATE …

Corporate Responsibility Corporate - OECD...corporate responsibility. In so doing, it places corporate responsibility in its broader governance setting, recognising that voluntary

Corporate Responsibility Corporate - OECD...corporate responsibility. In so doing, it places corporate responsibility in its broader governance setting, recognising that voluntary

CORPORATE RESPONSIBILITY & SUSTAINABILITY REPORT 2015 ... · CORPORATE RESPONSIBILITY & SUSTAINABILITY REPORT 2015 — 2016 ... CORPORATE RESPONSIBILITY & SUSTAINABILITY REPORT 2015

CORPORATE RESPONSIBILITY & SUSTAINABILITY REPORT 2015 ... · CORPORATE RESPONSIBILITY & SUSTAINABILITY REPORT 2015 — 2016 ... CORPORATE RESPONSIBILITY & SUSTAINABILITY REPORT 2015

Corporate Governance and Corporate Responsibility

Corporate Governance and Corporate Responsibility

Corporate Social Responsibility. Corporate Social Responsibility Corporate Social Responsibility Ethics Ethics Corporate Citizenship Corporate Citizenship.

Corporate Social Responsibility. Corporate Social Responsibility Corporate Social Responsibility Ethics Ethics Corporate Citizenship Corporate Citizenship.