Where: World Bank’s Sydney Office When: Friday 22 March
Lunchtime 12 to 12:30 Location 14 Martin Place CML Building Sydney NSW 2000
The World Bank is supposed to promote economic development and end poverty. But the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) arbitrates cases brought by global corporations against governments. ICSID rulings allow corporate exemptions to national environmental, public health and labor protections.
The tribunal undermines democracy by awarding companies massive compensation while undermining legitimate domestic regulations and court decisions.
Philip Morris is using an investor state lawsuit to sue Australia for more than $1 Billion dollars hoping to kill key elements in Australia’s anti-smoking program.
ICSID is currently hearing the case brought by the Canadian mining company, Pacific Rim, which is seeking to open a gold mine that could poison a river supplying more than half of El Salvador’s drinking water. The UN has designated El Salvador as having the most vulnerable environment in the world.
What we want.
We want Dr. Jim Yong Kim the new World Bank president to review the damage ICSID is doing by undermining the democratic and legal institutions of developing countries and sever it’s ties to ICSID.
Enough Is Enough
Stop Legitimating Investor State Law Suits
Advice from www.NoKangarooCourts.org
