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.

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.

The UN Working Group on Business and Human Rights held its first forum on December 4 and 5 in Geneva. The Halifax Initiative spoke at the forum on a panel concerning public financial institutions and human rights. ECA-Watch, CIEL and BankTrack disseminated the attached document at the forum containing analysis and recommendations regarding financial institutons and human rights.

This month we examine 'odious investment' - Mongolia Undermined; (Mis)Investment in Agriculture; More than Bricks and Mortar; and the Canada Pension Plan Investment Board.