Press Releases

Press Room

Welcome to the Halifax Initiative's Press Room!

Here you can read news stories featuring our perspectives on various issues, read our latest press releases, or sign up to receive our releases.

Feel free to contact us if you are looking for a Canadian perspective on issues related to the World Bank, the International Monetary Fund or Export Credit Agencies.

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.

Return of the financial transactions tax - Op-ed

Return of the financial transactions tax

Embassy Magazine, Feb. 16, 2011

By John Jacobs

In spite of Canada's attempt to bury it at the Toronto G20 meeting, a tax on financial transactions is back on the global agenda and gaining momentum.

French President Nicolas Sarkozy has pledged to use his term as chair of the G20 to reform the global financial system and curb the speculation that contributed to the economic crisis. At the top of his agenda is an international financial transactions tax (FTT) to fund the fight against poverty and climate change.

CNCA Press Release on Bill C-300

Bill C-300: Narrow Defeat despite Widespread Support for Mining Accountability and Human Rights

Ottawa, October 28th, 2010 - The Canadian Network on Corporate Accountability (CNCA) deeply regrets the defeat of Private Member’s Bill C-300, The Responsible Mining Bill, at third and final reading in the House of Commons. The Bill lost by a narrow margin of 140 to 134.

Civil Society Statement: G20: Take Action on FTT

To sign on to this letter, send the name of the organization and country in which it is based by 5PM Washington DC time on November 3rd to Amy Gray:

International Civil Society Statement to the G-20 Leaders Summit in Seoul

We, the undersigned civil society organizations from 32 countries, urge G-20 leaders to make concrete progress towards the introduction of an internationally coordinated financial transactions tax (FTT) at the upcoming summit in Seoul.

Press Release: May 18, 2010

Robin Hood Tax: Canada misses a chance for Leadership

OTTAWA – The Canadian Government is missing an historic opportunity to offer constructive global leadership by refusing to consider any kind of levy on the global financial sector.

“There are two proposals on the table here,” said Fraser Reilly-King of the Halifax Initiative. “One would save the banks, the other would save the world. At a time when global poverty is rising, along with sea levels, and European economies are crashing, the Harper government is actively campaigning against both.”

A Bank Tax would apply broadly and ensure future bailout funds would come from banks themselves, not the public. Canada’s counterproposal involves “embedded contingent capital,” which would shift the burden to shareholders, turning [contingent] bonds to equity if the banks run into trouble.


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