Export Development Canada

SECTOR Agency
RATINGS AAA/Aaa
RATING OUTLOOK Both stable
FUNDING VOLUME 2020/2021 US$8.8BN/US$10BN (target)
RISK WEIGHT 0%
REPO ELIGIBILITY RBA, RBNZ, ECB
About Export Development Canada

Export Development Canada (EDC) was created in 1944 to be Canada’s official export-credit agency. It was strengthened in 1969 when it was transformed into a Crown corporation by the Export Development Act. The second piece of legislation governing EDC is the Financial Administration Act.

In March 2014, the federal government authorised EDC to cover domestic financing and insurance services with some limitations attached. In 2015, the federal government announced plans for a development-finance institution under EDC to support private-sector financing to facilitate investment in developing countries. In 2018, the government launched a legislative review of the Export Development Act. The act requires the minister of international trade to undertake a legislative review of EDC every 10 years to examine different aspects of the role, functions and governance of EDC.

In March 2020, as part of its response to the COVID-19 crisis, the government of Canada expanded EDC’s domestic powers further to support Canadian businesses facing economic challenges brought on by the pandemic. Since then, EDC has expanded its mandate to include helping to stabilise and rebuild the Canadian economy.

FOR FURTHER INFORMATION PLEASE CONTACT:

Susan Love
Vice President and Treasurer
+1 613 598 2800
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.edc.ca 

SUSTAINABILITY OBJECTIVES OF GSS BOND PROGRAMME
Proceeds of these bonds are used to finance projects that benefit the environment and support the transition to a low-carbon economy.

GSS BOND PROGRAMME NAME Green Bond Program

REFERENCE TAXONOMY FOR THE USE OF PROCEEDS

 Issuer’s own definitions
FRAMEWORK WITH WHICH THE GSS BOND PROGRAMME IS ALIGNED Green Bond Principles
EXTERNAL REVIEW PROVIDER CICERO
Sustainable funding strategy

EDC launched its Climate Change Policy in 2019. The policy commits EDC to measuring, monitoring and disclosing climate-related risks and opportunities, integrating climate-change considerations into business decisions, and encouraging partners to do the same.

EDC’s commitment to the Green Bond Program is aligned with the government of Canada’s own commitment to address climate change. The funds raised have addressed at least one of two goals: cleaner and safer air, water or soil; or the mitigation of climate change. In 2019, EDC set a target to reduce its exposure to the most carbon-intensive sectors by 15% over five years against a December 2018 baseline. EDC has been able to achieve this goal ahead of schedule. It is now considering next steps further to drive changes in the composition of its portfolio in line with the low-carbon transition.