Mining corp. uses NAFTA to attack environment

Posted: December 16, 2011 in Uncategorized

EL SALVADOR — The North American Free Trade Agreement (NAFTA) was once the target of labor activists fearing U.S. job losses.

A lesser-known provision of NAFTA is undermining the ability of governments to protect the environment … AND workers’ rights.

The provision allows corporations to sue governments over actions that allegedly reduce the value of their investments, IPS reported.

“It’s an attack on democracy,” John Cavanagh, director of the Institute for Policy Studies, called a bank-based tribunal created to adjudicate such lawsuits. Cavanah’s quote referenced the lawsuit by Pacific Rim Mining Corporation versus the government of El Salvador.

Most recent Pacific Rim financial news.

More stories on PoetsCollective.

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