EDC welcomes positive results of OAG audit of its environmental commitments

    OTTAWA, June 9 /CNW Telbec/ - Export Development Canada (EDC) today
welcomed the positive results of the Auditor General of Canada's (OAG) review
of its Environmental Review Directive (ERD), which found that EDC's
environmental processes reflected international best practices.
    "EDC is pleased with the outcome of the OAG audit, which serves as an
independent indicator of the quality and relevancy of EDC's its environmental
commitments," said Eric Siegel, President and CEO of EDC.
    The report noted that EDC continuously monitors environmental policy
trends and that its policies and procedures were suitably designed and
generally consistent with those of other G7 countries and OECD standards.
    The report also identified three recommendations on adding further
reporting of existing procedures within EDC's environmental practices. In the
report, EDC has accepted and responded to these recommendations and identified
how it intends to address them.
    The Export Development Act requires the OAG to audit the design and
implementation of the Corporation's Environmental Review Directive a minimum
of every five years. This is the third audit of EDC's environmental
commitments, following previous audits in 2001 (prior to the ERD's
implementation) and 2004.

    EDC is Canada's export credit agency, offering innovative commercial
solutions to help Canadian exporters and investors expand their international
business. EDC's knowledge and partnerships are used by more than 8,300
Canadian companies and their global customers in up to 200 markets worldwide
each year. EDC is financially self-sustaining, a recognized leader in
financial reporting and economic analysis, and has been recognized as one of
Canada's Top 100 Employers for eight consecutive years.

For further information:

For further information: Phil Taylor, Export Development Canada, (613)
598-2904, Blackberry: ptaylor@edc.ca

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