abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapelocationmap-pinminusnewsorganisationotheroverviewpluspreviewprofilerefreshnewssearchsecurityPathtagticktooltiptwitteruniversalityweb
Article

Salvadoran experts urge Canadians to challenge dispute settlement provisions enabling investors to sue govts. over social & environmental policies

"Save Our Water, End Investor Rights", 13 May 2015

[T]wo Salvadoran experts…are calling on Canadians to help solve the water crisis by challenging investor-state dispute settlement (ISDS) mechanisms that have enabled corporations to sue governments for hundreds of millions of dollars when policies aimed at protecting the environment threaten corporate profits…Salvadorans are currently awaiting a ruling in a six-year legal battle initiated by…Pacific Rim and now pursued by…Oceana Gold, which acquired Pacific Rim in 2013…[Although] Pacific Rim had failed to meet Salvadoran regulatory requirements, the company is suing El Salvador for US$301 million for not having granted them a permit to operate a gold mine…The country's battle against mining is directly linked to initiatives taken within the past decade to develop long-term strategies to address its urgent water crisis…98 per cent of water sources were deemed to be contaminated and unfit for drinking [in 2010, according to a study]…[An expert’s] report concluded that the [mine] project would spell disaster for two thirds of the country's population who are dependent on the Lempa River watershed for their drinking water, livelihoods and other basic needs…[Also refers to Infinito Gold, Lone Pine Resources]