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  • Report looks at captured nature of BC’s Oil and Gas Commission August 6, 2019
    From an early stage, BC’s Oil and Gas Commission bore the hallmarks of a captured regulator. The very industry that the Commission was formed to regulate had a significant hand in its creation and, too often, the interests of the industry it regulates take precedence over the public interest. This report looks at the evolution […]
    Canadian Centre for Policy Alternatives
  • Correcting the Record July 26, 2019
    Earlier this week Kris Sims and Franco Terrazzano of the Canadian Taxpayers Federation wrote an opinion piece that was published in the Calgary Sun, Edmonton Sun, Winnipeg Sun, Ottawa Sun and Toronto Sun. The opinion piece makes several false claims and connections regarding the Corporate Mapping Project (CMP), which we would like to correct. The […]
    Canadian Centre for Policy Alternatives
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    Our new report maps rental affordability in neighbourhoods across Canada by calculating the “rental wage,” which is the hourly wage needed to afford an average apartment without spending more than 30% of one’s earnings.  Across all of Canada, the average wage needed to afford a two-bedroom apartment is $22.40/h, or $20.20/h for an average one […]
    Canadian Centre for Policy Alternatives
  • Towards Justice: Tackling Indigenous Child Poverty in Canada July 9, 2019
    CCPA senior economist David Macdonald co-authored a new report, Towards Justice: Tackling Indigenous Child Poverty in Canada­—released by Upstream Institute in partnership with the Assembly of First Nations (AFN) and the Canadian Centre for Policy Alternatives (CCPA)—tracks child poverty rates using Census 2006, the 2011 National Household Survey and Census 2016. The report is available for […]
    Canadian Centre for Policy Alternatives
  • Fossil-Power Top 50 launched July 3, 2019
    What do Suncor, Encana, the Royal Bank of Canada, the Fraser Institute and 46 other companies and organizations have in common? They are among the entities that make up the most influential fossil fuel industry players in Canada. Today, the Corporate Mapping Project (CMP) is drawing attention to these powerful corporations and organizations with the […]
    Canadian Centre for Policy Alternatives
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World Bank Joint Ventures With JP Morgan

(The following was sent by ITUC Washington representative Peter Bakvis and deserves wider distribution. While this action by the World Bank might reduce food prices at the margin, it would be far preferable for them to push for regulation of speculation in food instead of joining in a destructive game.)

In partnership with Wall Street investment bank JP Morgan, the World Bank has launched a food commodity hedging facility that is supposed to provide “$4 billion in protection from volatile food prices for farmers, food producers, and consumers in developing countries”.


The Bank’s press release, below, quotes World Bank president Robert Zoellick and the CEO of JP Morgan’s investment bank division as claiming that the new instrument will allow producers and consumers in developing countries “to  access agricultural price risk management”. The World Bank’s private-sector lending arm, IFC, will share in the credit risk, thus offering financial guarantees to JP Morgan. The communiqué states that IFC hopes to involve other private banks in the venture.


Several research reports published by UN agencies and the World Bank itself have blamed financial sector investments for contributing to extreme food price fluctuations since the middle of the past decade. The most recent such report, issued by UNCTAD earlier this month, blames financialization of food commodity markets, particularly through derivatives, as a major cause of food price volatility. (We sent a message about this report to the IFI-L on 6 June.) The World Bank’s communiqué makes no mention of the negative impact of investment banks’ involvement in food commodity markets or of any measures the Bank is taking to limit such impact.


The World Bank’s communiqué is below and also available in Arabic, French and Spanish at:,,contentMDK:22945434~pagePK:34370~piPK:34424~theSitePK:4607,00.html


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