Category: Export Credit

Probe International reply to Canada Pension Plan Investment Board

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(June 17, 2009) Last August, HidroAysén submitted its Environmental Impact Assessment to the environmental authorities for its proposed hydroelectric dams in the Patagonia region of southern Chile. The EIA excluded the transmission component of the project, which would be developed by Transelec and includes a 1,500-mile long transmission line and related infrastructure crossing through 14 legally protected natural areas and thousands of private properties, around volcanoes, and over fjords spanning, in all, more than half of Chile’s entire length.

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Giant "Dam Home Depot" banner flies over Atlanta during company’s annual shareholder meeting

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(May 28, 2009) Early this morning the nonprofit environmental organization International Rivers flew a giant "Dam Home Depot" banner over the company’s annual shareholder meeting in Atlanta. Protesters also unfurled a banner and raised questions inside the shareholder’s meeting, asking Home Depot executives to account for their role in supporting the destruction of Patagonia.

CPP Investment Board urged to abandon controversial Chilean transmission scheme

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(May 15, 2009) We are writing on behalf of the “Patagonia Defense Council” (“Consejo de Defensa de la Patagonia” – CDP), a diverse coalition of 58 organizations from Chile, USA, Canada, Spain and Italy, who have assumed the mission of defending the environmental integrity of Chilean Patagonia threatened by a mega hydroelectric project, called HidroAysén, and the associated transmissions lines.

Sen. Navarro calls for nationalization of Chile’s water

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(March 5, 2009) Behind Chile’s controversial plans to further dam the rivers of its ecologically delicate Patagonia region, which may soon be partially funded by the Canada Pension Plan (CPP), the Chilean government must first settle a growing debate over who actually controls Patagonia’s rivers. A number of companies were granted legal rights to Patagonia’s rivers during the final years of the infamous Pinochet regime, and the current plan is to build five large dams in the region. Now, the people of Patagonia want control of their rivers back.

Patagonia Dams – Horseback Protest in Chile

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(February 11, 2009) We had just landed after a 45 minute flight on LAN Chile from Puerto Montt at the Balmaceda airport outside the city of Coyhaique in the Patagonia. We were riding in an airport shuttle to central Coyhaique when we came around a bend to find a police car following a long line of horses. This was the Patagonia sin Represas horseback protest that has been making its way across the Patagonia for several weeks in an attempt to draw national and international attention to the proposed Dams that will be built in Southern Chile.

SNC-Lavalin official arraigned in ‘Lavalingate’ – Indian hydro dam scandal: Export Development Canada provided funding

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(February 5, 2009) According to recent Indian press reports, the country’s Central Bureau of Investigation has arraigned Claus Trendl, a senior vice president with Canada’s SNC-Lavalin, for the engineering giant’s role in a contract to overhaul three hydro-electric dams in the southwestern state of Kerala. It is alleged that irregularities occurred in the awarding of the contract and that Lavalin benefited from undue favour.

Columbia geophysical hazards scientist says evidence shows dam reservoir likely triggered China’s great quake of 2008

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(January 26, 2009) Christian Klose, a geophysical hazards research scientist from Columbia University in New York, says geophysical data suggests that the Zipingpu dam reservoir — just a few kilometers from the epicenter of China’s great quake of 2008 — likely triggered the deadly quake and explains how it happened.