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.
International Finance Corporation
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.
This month we examine 'odious investment' - Mongolia Undermined; (Mis)Investment in Agriculture; More than Bricks and Mortar; and the Canada Pension Plan Investment Board.
Energy poverty, climate change and the World Bank; Durban postmortem.
IMF misses global financial crisis; Colombian government puts breaks on World Bank-financed mine; Wikileaks: Canadian embassy promotes mining industry in Argentina; Guatemalans sue Hudbay.
AUGUST 27, 2010
The undersigned civil society organizations believe the latest drafts of the Sustainability Policy, Performance Standards, and Disclosure Policy respond usefully to some issues raised previously by many civil society organizations, including, for example, several issues related to gender, resettlement, and climate change. Many of our most significant concerns, however, remain unaddressed, including centrally important issues related to due diligence, transparency, and accountability, and other issues related to substantive concerns.
Commenting on The Social and Environmental Sustainability Policy, Performance Standards and Disclosure Policy
The undersigned civil society organizations have prepared this joint submission to provide an overview of many of our concerns related to IFC’s Policy on Social and Environmental Sustainability, the Performance Standards, related guidance documents, and the Disclosure Policy. We believe these concerns should be explored and addressed further through IFC’s current consultation and review process.
Experts address missing pieces of crisis response ahead of Canadian 2010 G8/G20 meeting
On October 19th and 20th the Halifax Initiative co-hosted a conference with The North-South Institute and the University of Ottawa on “What’s missing in the response to the global financial crisis?” The conference sought to engage the Canadian government in discussions with national and international academics, activists and policy-makers ahead of next year’s G8/G20. The conference touched upon a range of issues related to the causes of the crisis, policy and regulatory remedies, governance of the international financial institutions, tax havens and unfettered private capital flows, an emerging debt crisis, alternatives to the renewal of the Doha trade round, and the respective roles of the United Nations and G20. A policy brief with clear recommendations for the government is forthcoming.