Export Development Canada is declaring itself a leading defender of human rights, but workers groups and advocates say the... new policy falls well short of what’s needed. The agency, a lender and insurer for Canadian firms operating abroad, issued its first stand-alone human rights policy Wednesday, declaring itself to be “leading the way in the field of business and human rights” by setting standards for how companies it helps should behave.

... United Steel Workers of Canada declared it a missed chance to show leadership in global finance, business and human rights. “Instead, we have a policy that uses the right words in many places, but includes enough ambiguity and ample room for discretion that it raises concerns and questions about the ability of EDC to place human rights front and centre."... The new EDC policy says that when its customers come to the attention of the new ombudsperson, it will take “reasonable steps to co-operate in these processes and will also encourage our customers to do so.” One corporate-rights watchdog says that while the EDC deserves credit for trying to move the ball forward on accountability, nothing in the new policy is compulsory or binding on itself or any of its corporate clients... Karen Hamilton, the spokeswoman for Above Ground... said the group hopes Carr’s legal review leads to a change in EDC’s legislation to make stronger human rights obligations mandatory... The policy makes clear that the agency doesn’t have any actual power over the behaviour of its clients, said Hamilton.

... Robert Fosco, the EDC’s vice president of environment and social risk management... acknowledged the criticism of shortcomings in the policy, but said the EDC is committed to following the best practices on human rights and business set out by the United Nations and the Paris-based Organization for Economic Co-operation and Development.