The Energy Charter Treaty, which dates back to the 1990s, severely restricts Europe’s ability to change regulations in the energy sector, with many EU member states facing court actions worth billions of euros, write a group of MEPs.
Interview with Yamina Saheb, former head of unit in the Energy Charter Treaty Secretariat .
The claims had arisen out of certain measures taken by Poland, allegedly in breach of the Energy Charter Treaty and the Australia-Poland Bilateral Investment Treaty.
The ICSID has lifted the suspension on the execution of the €290 million award NextEra obtained a year ago.
Joining the Energy Charter Treaty could cost developing countries money that is urgently needed to fight Covid-19 and a loaming economic crisis. The Energy Charter Treaty has become increasingly controversial.
On the basis of the Energy Charter Treaty, companies are suing countries for damages when the latter decide to phase out or limit the use of fossil fuels.
Cyprus-based offshore EP Wind Project (Rom) Six Ltd claims that Romania has breached the Energy Charter Treaty.
Uniper is using a controversial investor dispute system to claim up to €1 billion compensation for being forced to close a coal power station early.
On February 18, The Hague Court of Appeal reinstated an order of the Permanent Court of Arbitration, which obliged Russia to pay more than $50 bln to the companies associated with former Yukos shareholders in 2014.
The Energy Charter Treaty takes an axe to climate action.
On 5 May 2020, 23 Member States of the EU entered into an Agreement for the Termination of Bilateral Investment Treaties between the Member States of the European Union.
A global tragedy at a high cost for taxpayers.
An updated European Commission proposal to reform the Energy Charter Treaty is falling short of what’s needed to reinstate governments’ “right to regulate” in areas like climate change, activists say.
Joining the Energy Charter Treaty could cost developing countries money that is urgently needed to fight the COVID-19 pandemic and economic crisis.
Many countries, particularly in the global south, are in the process of joining the Energy Charter Treaty despite the sweeping powers it grants to foreign investors.
While policies aiming to phase out coal are necessary to tackle climate change, they may give rise to legal claims from companies whose investments are adversely affected by the low-carbon energy transition.
Civil society activists and scientific experts denounce the unsustainable practice of investment disputes under the Energy Charter Treaty.
A Dutch appeals court reinstated an international arbitration panel’s order that it should pay $50 billion compensation to shareholders in former oil company Yukos.
The energy company Vattenfall is demanding compensation from the Federal Republic of Germany. The costs for the arbitration proceedings could exceed 20 million euros this year.