An obscure investment agreement, the Energy Charter Treaty, threatens to undermine bold climate action to transform Europe’s energy system.
For the first time, Sweden has recieved a notice of arbitration for banning the exploration and mining of uranium.
Climate campaigners are demanding that European Union countries pull out of the treaty unless they can negotiate an end to the pact’s investor-state dispute mechanism.
We – 278 environmental, climate, consumer, development, and trade related civil society groups, as well as trade unions – believe that the ECT is incompatible with the implementation of the Paris Climate Agreement.
The government will offer subsidies which will allow investors that abandon litigation to maintain their current profitability rate of 7.39% until 2031.
Aura Energy lodged a claim against Sweden to recover the losses incurred from the Haggan uranium project following the country’s decision to ban uranian mining.
The EU taxpayer is the main loser from the continuation of the Energy Charter Treaty which locks Europe into carbon and energy injustice at a high cost to taxpayers.
The company building the controversial Nord Stream 2 gas pipeline from Russia to Germany under the Baltic Sea today sued the European Union over new gas rules it says are threatening its investments in the project.
The Energy Charter Treaty is a multilateral agreement that grants binding protection for foreign investors and includes also binding provisions for free trade and freedom of transit of energy materials and products.
German company Uniper has threatened to bring an ISDS case against the Dutch government after a decision to ban coal-based power generation by 2030.
Critics say the Energy Charter provides excessive legal protection for oil and gas companies, which can claim uncapped reparations from governments who frustrate investments in fossil fuel projects.
Spain will have to pay EUR 41 million to German solar investor SolEs Badajoz GmbH for retroactively cutting long-term premiums for renewable energy projects.
The Nord Stream 2 pipeline company has asked the Court of Justice of the EU to annul the amendments to the Gas Directive but Nord Stream 2 reserves itself this option of resorting to legal arbitration as well.
The European Commission and the Nord Stream 2 gas pipeline company are heading toward legal arbitration in their dispute, with a risk of huge fines for EU taxpayers.
Ascent Resources plans to lodge an investment treaty arbitration claim under the Energy Charter Treaty.
EU plans to extend its internal energy market rules to Russia’s Nord Stream 2 natural gas link to Germany could breach the Energy Charter Treaty, which protects international investors, according to the Swiss-registered company building it.
The ICSID ruled against Spain in a case brought by NextEra Energy Inc regarding the US utility’s lost investments in two 49.9-MW concentrated solar power plants.
22 of the 28 EU nations have committed to terminate their bilateral investment treaties and use their influence as home states and respondent-states to notify tribunals of the non-arbitrability of intra-EU bilateral investment treaties and Energy Charter Treaty claims.
The net award for Athena Investments amounts to approx. EUR 11M.