As it works in a variety of sectors in markets around the world, CCC has implemented a robust Enterprise Risk Management (ERM) policy to understand, manage and communicate risk from an organization-wide perspective. Involving employees from all levels of the Corporation and embedded in day-to-day operations, ERM ensures a risk culture fully aligned with CCC’s strategic objectives.
Management uses CCC’s ERM process to:
- Identify business risks faced on a day-to-day and strategic basis
- Consistently analyze risks for likelihood of occurrence and potential impact
- Establish formal systems to minimize and monitor risk
- Communicating risks throughout the Corporation
- Develop risk profiles at key levels
- Report changes to CCC’s risk portfolio to the Board of Directors
Corporate social responsibility
The Canadian Commercial Corporation is committed to a Corporate Social Responsibility policy that helps us operate in an environmentally, socially and ethically responsible manner. As the Corporation does business around the world on behalf of both the Government of Canada and Canada’s exporters, it’s critical that we carefully consider all the implications of our business activities—both at home and abroad. Our employees annually sign both a Code of Conduct and Code of Business Ethics, and we ensure we represent Canada and our export community proudly and ethically.
Bribery and corruption
The Corporation is subject to the Corruption of Foreign Public Officials Act, which stipulates that bribing other countries’ government employees is a criminal activity. All of our contracts with Canadian suppliers include a clause specifically forbidding such acts. Should a Canadian supplier be found bribing a government official while under a CCC contract, the Corporation reserves the right to impose various sanctions.
For more information, please see the Department of Justice’s guide to the Act, which can be found here.
Through the Canadian Environmental Assessment Act (CEAA), the Government of Canada is committed to supporting sustainable development by assessing the environmental impact of all decisions, operations, projects and activities. Though CCC is not specifically subject to the CEAA, the Corporation has adopted the spirit and intent of the Act, and CCC will not support projects that will cause significant adverse environmental effects.
CCC Environmental Assessment Policy
In June of 2010, CCC’s Board of Directors formalized its environmental review process by adopting a CCC Environmental Assessment Policy. The policy mirrors the requirements of the CEAA, and provides guidelines for obtaining and reviewing environmental assessments based on CEAA standards—including the CEAA’s Projects Outside Canada Environmental Assessment Regulations. When CCC projects are funded through export credit agencies or international organizations such as the World Bank, the Corporation reviews the environmental assessments completed for these institutions to assure that the project will not significantly impact the environment.
CCC Fees generated by CCC’s participation in transactions is the key funding source for the Corporation to continue to participate in projects outside of the Defence Production Sharing Agreement (DPSA) program. The CCC Pricing Policy provides direction to staff on the pricing of CCC’s services.