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Public support for the Extractive Sector – myth or reality?

Public support for the Extractive Sector – myth or reality?. Export Development Canada (EDC) World Bank Group (WBG) Multilateral Development Banks (MDBs) Canadian Commercial Corporation (CCC) Canadian Pension Plan (CPP) Canada Investment Fund for Africa (CIFA)

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Public support for the Extractive Sector – myth or reality?

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  1. Public support for the Extractive Sector – myth or reality? • Export Development Canada (EDC) • World Bank Group (WBG) • Multilateral Development Banks (MDBs) • Canadian Commercial Corporation (CCC) • Canadian Pension Plan (CPP) • Canada Investment Fund for Africa (CIFA) • Embassies; Team Canada; CIDA/Inc.

  2. Public support…plus… • Quantitative…and qualitative… • EDC, WBG, MDBs leverage additional capital • Promote “trade and investment” (NOT development and HR) – myopic; lacks coherence • BUT public institutions, using public capital, and should be acting in the broader public interest • Responsibility of the government to regulate the activities and impacts of these institutions

  3. Addressing the Environment & Human Rights – where are the gaps? • EDC – Environmental review; PRA (cf. ECGD) • WBG – Performance Standards; HRIA (cf. Danish Institute, International Alert, R&D) • MDBs – Safeguards; (cf. IDB, EBRD HR screen) • CCC – Environmental Review Framework • CPP – Policy on responsible lending; UN Principles for responsible investment; (cf. Norway) • CIFA – Investment criteria; (cf. Equator Principles; Ethical investment Funds)

  4. Actionable Ideas – General & Specific Given these gaps, the Canadian government should: • not provide public support through the bilateral and multilateral public financial institutions for projects that violate Canadian, or host country, international environmental and HR obligations – EBRD; Finance This would require the government to: • play a lead role in pushing the WBG and MDBs to mainstream HR – EIR; Danino; Sweden, Norway. • report on these efforts in Annual Reports on the BWIs, and MDBs to Parliament - EBRD

  5. Actionable ideas - Specific • amend the ED Act to require EDC to assess HR issues, and the CP Act to require the CPP IB to assess social, environmental and HR issues – Delcredere; Norway • following amendments, establish a public process to develop protocols to implement these assessments, and appropriately staffed and resourced Units to conduct the assessments - EDC • develop an independent ombudsman mechanism to receive complaints, advise government institutions, and mediate between groups to ensure the appropriate application of the above policies and practice - Oxfam • develop a screen for CIFA and CCC

  6. Contact Details Fraser Reilly-King Coordinator, Halifax Initiative Coalition 153 Chapel Street, Ottawa, ON K1N 1H4 Tel: (613) 789-4447 freillyking@halifaxinitiative.org www.halifaxinitiative.org

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