Canada’s CSR Strategy for Extractives 2.0 – Government Acknowledges Power to Act, Declines to Do So (Ottawa) Today the Government of Canada released its revised Corporate Social Responsibility (CSR) Strategy for extractive companies operating overseas, finally recognising its power to withdraw the substantial support that it provides such companies in order to make them accountable, but declining to apply that power in any meaningful way. Coming five years after the 2009 launch of the Government’s initial CSR strategy, the updated policy leans heavily on a revised role for the CSR Counsellor, a failed institution under the original plan, and on enhanced involvement of Canada’s missions abroad. While a more substantive review of the updated strategy will depend on specifics that have yet to be released, for example regarding the CSR Counsellor’s mandate, a few things jump out. The Government of Canada still says that it “expects” Canadian companies operating overseas to respect human rights, all applicable laws and recognized international standards for responsible business practices, as well as “Canadian values.” But it notes that if this is not possible, “companies may wish to reconsider their investment.” This is important guidance for Canadian companies operating in places such as Eritrea or Tibet where it is flatly impossible for them to meet these requirements. The Government also recognizes that it provides, and has the power to withhold, significant services to Canadian extractives companies operating overseas through “economic diplomacy,” as well as through financial support by, for example, “financing by Government of Canada crown corporations, like Export Development Canada (EDC) and the Canadian Commercial Corporation (CCC).” us4.campaign-archive1/?u=c89185f430617e4dc1a02762e&id=7f79167ba0&e=b0174a2012
Posted on: Fri, 14 Nov 2014 22:12:15 +0000
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