In May, 120,000 people in northwestern Colombia were endangered by the potential collapse of a hydroelectric dam being developed by Empresas Públicas de Medellín (EPM), a client of Canada’s export credit agency. EPM is currently under investigation for possible corruption and environmental damage linked to the project.
Export Development Canada
In May Indian police shot and killed 13 people who were protesting pollution from a copper smelter owned by Vedanta Ltd, a client of Export Development Canada (EDC). In this letter, we seek answers from EDC's President and Chief Executive Officer regarding the actions taken by the public agency to respond to the shootings and the harms caused by its client's operations.
As leaders of the world’s richest countries gather at the G7 summit today, Canada’s prime minister intends to push for a commitment on climate change in the meeting’s final statement. But the government’s slow progress on a 2009 pledge to eliminate fossil fuel subsidies raises questions about Canada’s own commitment to cut emissions.
Last month 13 people protesting the expansion of a copper smelter owned by Vedanta Limited were shot and killed by police in the Indian state of Tamil Nadu. Vedanta Ltd. is financed by the Canadian government despite being blacklisted on human rights and environmental grounds by many investors.
Above Ground has long questioned Export Development Canada’s assessment of environmental and human rights risks posed by its clients' operations. Now the auditor general is warning there are “significant deficiencies” in the agency’s overall management of risk.
Export Development Canada is mishandling loan risks and keeping board members in the dark about key financing arrangements, according to a scathing report by federal Auditor-General Michael Ferguson. By Barrie McKenna | The Globe and Mail