International Code of Ethics for Canadian Business

VISION
BELIEFS
VALUES
PRINCIPLES
APPLICATION

VISION

Canadian business has a global presence that is recognized by all Stakeholders¹ as economically rewarding to all parties, acknowledged as being ethically, socially and environmentally responsible, welcomed by the communities in which we operate, and that facilitates economic, human resource and community development within a stable operating environment:

BELIEFS

We believe that:

• we can make a difference within our sphere of influence (our stakeholders)

• business should take a leadership role through establishment of ethical business principles

• national governments have the prerogative to conduct their own government and legal affairs in accordance with their sovereign rights

• all governments should comply with international treaties and other agreements that they have committed to, including the areas of human rights and social justice

• while reflecting cultural diversity and differences, we should do business throughout the world consistent with the way we do business in Canada

• the business sector should show ethical leadership

• we can facilitate the achievement of wealth generation and a fair sharing of economic benefits

• our principles will assist in improving relations between the Canadian and host governments

• open, honest and transparent relationships are critical to our success

• local communities need to be involved in decision-making for issues that effect them

• multistakeholder processes need to be initiated to seek effective solutions

• confrontation should be tempered by diplomacy

• wealth maximization for all stakeholders will be enhanced by resolution of outstanding human rights and social justice issues

• doing business with other countries is good for Canada and vice versa

VALUES

We value:

• Human rights and social justice

• Wealth maximization for all stakeholders

• Operation of a free market economy

• A business environment which mitigates against bribery and corruption

• Public accountability by governments

• Equality of opportunity

• A defined code of ethics and business practice

• Protection of environmental quality and sound environmental stewardship

• Community benefits

• Good relationships with all stakeholders

• Stability and continuous improvement within our operating environment

PRINCIPLES

A. Concerning Community Participation and Environmental Protection, we will:

• strive within our sphere of influence to ensure a fair share of benefits to stakeholders impacted by our activities

• ensure meaningful and transparent consultation with all stakeholders and attempt to integrate our corporate activities with local communities as good corporate citizens

• ensure our activities are consistent with sound environmental management and conservation practices

• provide meaningful opportunities for technology cooperation, training and capacity building within the host nation

B. Concerning Human Rights, we will:

• support and promote the protection of international human rights within our sphere of influence

• not be complicit in human rights abuses

C. Concerning Business Conduct, we will:

• not make illegal and improper payments and bribes and will refrain from participating in any corrupt business practices

• comply with all applicable laws and conduct business activities in a transparent fashion

• ensure contractor's, supplier's and agent's activities are consistent with these principles

D. Concerning Employee Rights and Health & Safety, we will:

• ensure health and safety of workers is protected

• strive for social justice and promote freedom of association and expression in the workplace

• ensure consistency with universally accepted labour standards, including those related to exploitation of child labour

APPLICATION

The signators of this document are committed to implementation with their individual firms through the development of operational codes and practices that are consistent with the vision, beliefs, values and principles contained herein.

¹ Should include: local communities, Canadian and host governments, local governments, shareholders, the media, customers and suppliers, interest groups, and international agencies.