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Public Accounts committee  Thank you for the question. Indeed, it's those impact lenses that I mentioned around climate and nature action. We would take a look at how the particular company or financial institution that we're investing in is looking at climate change from a risk perspective as well as an opportunity perspective.

February 29th, 2024Committee meeting

Lori Kerr

Public Accounts committee  Sure. I'm happy to share a little bit about FinDev Canada. We're Canada's bilateral development finance institution. As you've said, we support financing and investment in emerging markets in developing economies. We work with the private sector. We're a wholly owned subsidiary of Export Development Canada, and our initial capitalization of $300 million came in 2018.

February 29th, 2024Committee meeting

Lori Kerr

Public Accounts committee  As a point of clarification, we don't have what one might call a nexus mandate to support Canadian investment abroad in particular. We're in the business of supporting private development in emerging markets and developing economies. Should there be Canadians who invest abroad, that's fine, but the export promotion piece is really what EDC does.

February 29th, 2024Committee meeting

Lori Kerr

Public Accounts committee  Indeed. As a development finance institution we're an investor with impact, so again, we put that impact lens on everything we do. In the ecosystem of financing, we occupy a space that sort of sits between commercially oriented finance and more traditional aid. We look for companies and investment opportunities that will provide a return.

February 29th, 2024Committee meeting

Lori Kerr