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Article

18 Nov 2014

Author:
Department of Foreign Affairs, Trade and Development, Canada

Canada announces new corporate social responsibility strategy for extractives abroad integrating UN Guiding Principles

"Canada’s Enhanced Corporate Social Responsibility Strategy to Strengthen Canada’s Extractive Sector Abroad", 19 Nov 2014

The enhanced Strategy, announced on November 14, 2014, clearly demonstrates the Government of Canada’s expectation that Canadian companies will promote Canadian values and operate abroad with the highest ethical standards. It also outlines the Government’s initiatives to help Canadian companies strengthen their CSR practices and maximize  the benefits their investments can provide to those in host countries...Companies are expected to align with CSR guidelines and will be recognized by  the CSR Counsellor’s Office as eligible for enhanced Government of Canada economic diplomacy. As a penalty for companies that do not embody CSR best practices and refuse to participate in the CSR Counsellor’s Office or NCP dispute resolution processes, Government of Canada support  in foreign markets will be withdrawn...[The CSR strategy includes] benchmark CSR guidance released since 2009, namely the United Nations’ Guiding Principles on Business and Human Rights, and the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas..