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The last few months have been exciting for ethical business in Canada. From green bonds to the largest B corp in the world, Canada is slowly makings its place in a new ethical business environment.
With green bonds* seeing another record quarter and a rise in interest from investors, Canada has continued forging ahead with Export Development Canada’s (EDC) latest issue of green bonds. Moreover, Canada’s Business Development Bank (BDC) is now the largest company in the world to be certified by B Labs as a B Corp**. The BDC is Canada’s first financial institution to receive the status and the country’s 100th B Corp. Additionally, Canadian “clean capitalism” magazine, Corporate Knights, has released its annual Best 50 Corporate Citizens in Canada (in addition to a foreign company list, a list of Canadian companies separated by industry and an analysis of resource productivity amongst Canadian companies) and the first-ever Green Provinces and States Report Card (and a corresponding American list). The corporate list, made up of large corporations, was topped by Mountain Equipment Co-op, the Vancouver City Savings Credit Union, Bombardier and Tim Hortans. Meanwhile, the Canadian provincial list was topped by British Columbia, Prince Edward Island and Quebec.
All these developments are definitely steps in the right direction, we can only look forward to even more growth in the ethical fashion industry and in ethical business overall.
*Green Bonds: Tax-exempt bonds that encourage sustainability development
** B Corp: A designation given to companies that meet high environmental, social and governance standards