NEWS RELEASES
October 26, 2004 (3:00 p.m. EDT) No. 123
PETERSON RECOGNIZES PROGRESS BY EDC
ON ENVIRONMENTAL REVIEW PRACTICES
International Trade Minister Jim Peterson today welcomed the findings of the second
audit report from the Office of the Auditor General on the environmental review
practices of Export Development Canada (EDC).
“The new audit report gives EDC excellent marks on both the design and the
implementation of its environmental review procedures, while also recommending
additional steps to increase transparency,” said Mr. Peterson.
In 2001, the Auditor General released a first audit report that expressed concern with
EDC’s disclosure practices and with the gaps that existed between the design and
implementation of EDC’s Environmental Review Framework. At the time, the
International Trade Minister requested that the Auditor General undertake another audit
after two years. EDC has since established a world-class environmental team and
adopted a new framework to review its projects. The Auditor General’s latest report is
the response to that request.
The review also found that EDC’s current environmental review policies are consistent
with those of other export credit agencies.
“EDC has refined its framework to keep Canadian exporters competitive in world
markets while reflecting Canadian values on the environment,” Minister Peterson
added.
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For further information, media representatives may contact:
Jacqueline LaRocque
Director of Communications
Office of the Minister of International Trade
(613) 992-7332
Media Relations Office
Foreign Affairs Canada and
International Trade Canada
(613) 995-1874
http://www.international.gc.ca
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