Languages
Recherche
Newswire on the IFIs
- Austerity a moral issue as it inflicts millions
- Bangladesh exposes flaws in World Bank's Doing Business Index
- Poverty should not be entrusted to economists
- A flawed 'Doing Business' report
- Risk and accountability: What role for the Inspection Panel?
- Rio Tinto gets Australian government loan for Mongolian mine project
International Finance Corporation
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.
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.
COMMENTS ON IFC’S CONSULTATION DRAFTS OF THE IFC SUSTAINABILITY POLICY AND PERFORMANCE STANDARDS AND DISCLOSURE POLICY
AUGUST 27, 2010
General Observations
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
Introduction
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.
http://www.freedominfo.org/ifti/20080516a.htm
16 MAY 2008
Canadian Government Reports on IFI Activity Get Good Grade
The Canadian government’s annual reporting on its activities at international financial institutions is getting better, according to the authors, and to a Canadian civil society group which recently gave the latest report its best grade ever.
The Halifax Initiative said the report on 2007 activities merited a B+, up from last year’s rating of B-, and way up from the D grades of 2001-2005.
November 5, 2007
Ms. Karyn Keenan
Program Officer
Halifax Initiative
104-153 Chapel Street
Ottawa ON KIN 1H5
Dear Ms. Keenan:
This is in response to your letter of September 17. Your letter contains many questions and comments which I will answer by focusing on the key issues that you raise.
The first issue raised refers to Export Development Canada’s practices related to public consultations and whether this is a requirement of our environmental review process.
2b rue Jules Ferry,
93100 Montreuil, France
Tel. +33 1 48 51 18 90,
Fax +33 1 48 51 95 12
Email: facilitator@eca-watch.org
Members of the Export Credit Group
OECD
2, rue André Pascal
F-75775 Paris Cedex 16
Fax: c/o 01 44 30 61 58
Email: c/o Xcred.Secretariat@oecd.org
Paris, 5 November 2007
Dear Sir/Madam,
