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Desjardins will provide up to $1 billion for green projects by medium and large companies

December 8, 2022

Montreal, December 8, 2022 – Desjardins Group is pleased to announce a partnership with Export Development Canada (EDC) that will enable the organization to launch a new sustainable financing offer for medium and large export companies. With this new product, Desjardins will grant up to $1 billion over the next three years for projects that aim to reduce greenhouse gas emissions.

This financial support is made possible through EDC's Sustainable Finance Guarantee pilot program. The risk-sharing solution was developed to increase the financing available to businesses that want to reduce their greenhouse gas emissions and do their part to help Canada transition to a low-carbon economy.

"We need to help companies reduce their carbon emissions to more effectively fight climate change. Desjardins Group's partnership with EDC reflects its efforts to support a just energy transition and take a leadership role in the shift to a lower carbon economy. Future generations deserve for us to make every effort to ensure the current and future well-being of our communities," said Jean-Yves Bourgeois, Executive Vice-President, Business Services at Desjardins Group.

"Over the last year, EDC has expanded its partnership with Desjardins by leveraging our synergies to increase trade while finding new ways of reinforcing our commitment to carbon neutrality," said Justine Hendricks, Senior Vice-President and Chief Corporate Sustainability Officer at EDC. "By offering our Sustainable Finance Guarantee, we're helping Canadian businesses transform their sustainable practices into sustainable actions, so they can remain competitive on foreign markets while contributing to a better world."

Projects involving the circular economy, renewable energy, green buildings, sustainable food production, cleantech, and pollution control and prevention are just a few examples of projects that are eligible for this program. Sharing the risks of this financing makes it possible to support emerging and next-generation climate solutions.

Desjardins Group and EDC are both endeavouring to identify innovative solutions and initiatives to help businesses across Canada invest in sustainable development projects. Whether its raising awareness, making referrals to good resources, or developing financial tools, Desjardins and EDC are exploring every angle to promote the implementation of sustainable development practices that will enable Canadian businesses to stand out on the international market.

Net zero emissions by 2040

Desjardins Group has implemented an ambitious plan to achieve net zero emissions by 2040 in its extended operations and in its lending activities and own investments in three carbon-intensive sectors: energy, transportation and real estate.

To achieve this, it will boost the share allocated to renewables in its lending to large energy corporations from 24% in 2020 to 35% in 2025. The co-op will also build up a $2-billion portfolio in renewable energy infrastructure investments (up 66% over 2020) and provide financial support for five development projects to convert organic waste, largely from agriculture, into renewable energy (biomethanization).

About EDC
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit

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