Madam Speaker, being newer to the House, I must tell you that four minutes seems like an eternity at one level.

    It is my privilege to rise in the House today to speak to Canada's role in promoting effective corporate social responsibility and socially responsible investing. Also, as a new member of the House and a rookie in the international trade committee, I take seriously the role that corporations must accept in their capacity as positive contributing members.

    Let me thank the hon. member for Scarborough—Guildwood for introducing Bill C-300 on February 9 and all the opposition parties for their continued dialogue on this important issue, because their contributions make this House better.

    I would also like to take the opportunity to thank the many constituents of London West who have taken the time to send me their opinions on the subject. I have received many postcards and emails from constituents, many of whom I do not know, who have expressed a desire to see Canadian companies demonstrate more corporate responsibility.

    We all know that London is a growing hub for international business and with that corporate success comes responsibilities. I know Londoners care and business cares. That is why they are concerned about issues like this.

    I consider my role as past president of the London Chamber of Commerce, which provides a thoughtful perspective on corporate social responsibility with companies in my city which are world class, a very personal insight.

    The Conservative Government of Canada already encourages and expects Canadian companies working internationally to respect all applicable laws and international standards to operate transparently and in consultation with host governments and local communities and to develop and implement corporate social responsibility practices.

    My concern is that Bill C-300 would impose a rigid legal framework of corporate social responsibility standards that has not undergone the necessary degree of consultation and analysis. The framework would abandon the use of multilateral standards and instruments that create a unilateral corporate social responsibility regime against which the Government of Canada would assess the activities of Canadian companies operating abroad, raising concerns of both privacy and extraterritorial jurisdiction.

    Moreover, this legislative framework would affect the ability of the government departments, agencies and crown corporations to fulfill their mandates, and its compulsory nature would entail a rigidity that would not be beneficial in today's economic climate.

    Londoners believe we can, and should always, encourage greater efforts toward corporate social responsibility, but unfortunately, I believe this proposal falls somewhat short.

    Bill C-300 specifically addresses how two crown corporations and one government department encourage Canadian companies to act in a socially responsible and sustainable manner. The bill proposes substantive changes to the legislation that establishes Export Development Canada, the Canada Pension Plan Investment Board and the Department of Foreign Affairs and International Trade without due consideration for the consequences, nature or enforceability of those changes. Those departments and agencies have already incorporated corporate social responsibility initiatives into their operations.

    The Department of Foreign Affairs and International Trade actively promotes corporate social responsibility best practices to the companies it serves. As part of this commitment, trade commissioners in Canada and around the world work with companies to help improve their corporate social responsibility records.

    The Department of Foreign Affairs and International Trade chairs Canada's national contact point for the OECD guidelines, an interdepartmental committee with representatives from a number of federal government departments whose role is to promote awareness of the guidelines and ensure their effective implementation.

    At Export Development Canada, Canada's export credit agency, corporate social responsibility has become an integral part of the operations and risk management practices. It provides expertise to Canadian exporters and investors and its worldwide partners.

    Export Development Canada recognizes that in the extractive industries, transparency and environmental responsibility are paramount to a project's sustainability.

    I regret to interrupt the hon. member, but the time provided for the consideration of private members' business has now expired and the order is dropped to the bottom of the order of precedence on the order paper.