Canadian companies urged to look at the cost of doing business with despots

Author: Geoffrey York, CTV News [Canada], Published on: 1 March 2011

[T]he…rebellions in Egypt and Tunisia… – and, a few days after the convention, in Libya – have shown the risks of relying on autocracy. Two of Canada’s biggest companies, SNC-Lavalin Group Inc. and Suncor Energy Inc., suddenly found their reputations tarnished and their massive Libyan investments in jeopardy as the country collapsed into violence…Canadian companies have invested billions of dollars in dozens of undemocratic regimes.... Now they are facing awkward questions – and perhaps a new assessment of what “political risk” really means…..Jamie Kneen, spokesman for the independent…group MiningWatch Canada, says there are good reasons for Canadian businesses to avoid investing in authoritarian regimes. Intentionally or not, their investments can end up supporting a regime that commits human-rights abuses, he says. [also refers to Bombardier, Power Corp, Nortel Networks, Continental Minerals, Talisman, Nevsun Resources]

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Related companies: Bombardier Continental Minerals Kinross Gold Nevsun (part of Zijin Mining) Nortel Networks Power Corporation of Canada SNC-Lavalin Suncor Talisman (part of Repsol)