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Ottawa Vows to Protect ‘Canada Brand’ with Social Responsibility Policy

Posted November 14, 2014

Under International Trade Issues

(Globe & Mail)

The federal government plans to punish mining and energy companies that run afoul of its new corporate social responsibility policy by withdrawing support they receive from agencies such as Export Development Canada and embassies abroad. [...]

The government is launching a corporate social responsibility (CSR) strategy as part of its broader effort to enhance the business prospects for resource companies abroad. Toronto is a global centre for mining finance and Canadian-based companies are particularly prominent in Africa and South America, where more than 250 companies controlled $81-billion in assets in 2011.

Moving with the European Union and the United States, Ottawa is already set to impose new transparency standards on resource companies, having introduced legislation this fall that will require them to report all payments made to national, state and local governments both at home and abroad. Read more here.