ECA and IFI -funded projects
This page links to information concerning a number of projects on which we have worked, in solidarity with local communities. In some cases, the projects rely on World Bank funding. In others they involve Canadian companies that may be seeking, or have secured, financial support from Export Development Canada (EDC). Sometimes they involve both. Regardless of the source of funding, in all cases, communities have contacted us because they are concerned about the significant adverse environmental, social and human rights impacts of the projects.
Greeks question EDC financing for Eldorado
In 2012, Export Development Canada provided Eldorado Gold with between $25 and $50 million in financing despite credible concerns regarding the serious environmental and social impacts of its operations in Greece.
Canadian organizations welcome first step toward extractive industry transparency
In this June 13 press release, civil society welcomes the government's commitment to adopt binding corporate disclosure requirements but calls for further steps in the development of a comprehensive accountability framework regarding the overseas operations of Canadian extractive companies.
CSOs: Oyu Tolgoi non-compliant with IFC Performance Standards
Oyu Tolgoi is an enormous copper and gold deposit in Mongolia. The project is jointly owned by Canadian company Turquoise Hill Resources and a state owned enterprise. According to the International Finance Corporation (IFC), estimated project cost is $12 billion. Project proponents seek financing from Export Development Canada, the IFC, the European Bank for Reconstruction and Development and the Multilateral Investment Guarantee Agency, among others. In this document, CSOs argue that the project does not comply with the IFC Performance Standards and provide a series of recommendations.
Issue Update - October 31, 2012
This month we examine 'odious investment' - Mongolia Undermined; (Mis)Investment in Agriculture; More than Bricks and Mortar; and the Canada Pension Plan Investment Board.
Issue Update, June 2012
Climate finance: the World Bank, Export Development Canada and the Canadian government. Plus Rio+20 postmortem.
Halifax Initiative Testimony, Foreign Affairs Committee, May 30, 2012
Presentation concerning the role of the private sector in international development with a focus on new CIDA programming in support of the extractive sector.
Desperately Seeking Sanction: Canadian Extractive Companies and their Public Partners
Article prepared for the 'Global Capital, Global Rights' workshop convened by SFU and UBC. The text discusses civil society efforts in support of Bill C-300, legislation that sought to create accountability mechanisms regarding the provision of government support to Canadian extractive companies that operate overseas.
Monthly Issue Update - January 31, 2012
Energy poverty, climate change and the World Bank; Durban postmortem.