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.
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.
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.
On May 24, the Chilean government fined Barrick Gold $16 million for violations of its environmental permit for the Pascua Lama project. The following day, local communities released a public statement denouncing the fine. In an interview with Radio Canada International, the Halifax Initiative's Karyn Keenan discusses local reactions.
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.
Statement by the Halifax Initiative, the Latin American Observatory of Environmental Conflicts and MiningWatch Canada concerning Barrick Gold's disasterous second quarter results and its 'star' project, Pascua Lama.
Presentation concerning the role of the private sector in international development with a focus on new CIDA programming in support of the extractive sector.