The treaty enables companies to claim billions in compensation from states in front of international arbitration tribunals, if they feel unfairly treated by the states’ energy or climate policies.
The move signals the government’s resolve to defend its sovereign rights in taxation. The government has kept open possibility of settling the dispute within existing Indian laws.
A petition to ensure the Energy Charter Treaty will no longer be used against EU climate and energy policies is now available for supporters on the European Parliament website.
Cairn Energy has filed a case in a US district court to enforce a $1.2 billion arbitration award it won in a tax dispute against India, a court document showed, ratcheting up pressure on the government to pay its dues.
Ten years have passed since the judgment of Lago Agrio. Until today the oil company refuses to comply with the judgement; and, in turn, has chosen to activate a whole system that guarantees corporate impunity.
ROYAL Dutch Shell Plc launched arbitration proceedings against the Nigerian government over a long-running community dispute.
Some governments have said the bloc should consider quitting the agreement because the treaty could threaten climate goals.
SK Innovation is considering initiating international arbitration proceedings against the Peruvian government for blocking the company’s exit from Camisea Gas Project in Peru.
Alberta’s Premier said that the Canadian province, which has an equity in the now-canceled Keystone XL pipeline, may seek compensation under investor-protection provisions still in effect under NAFTA
The bill gives preference in electricity distribution to the state-run Comision Federal de Electricidad and seeks to eliminate its obligation to buy electricity through auctions.
The European Union and its member states should draw the consequences of the current stalemate in multilateral talks aimed at reforming the Energy Charter Treaty and consider a coordinated withdrawal, Paris has said
RWE has filed an arbitration claim against the Netherlands, seeking compensation for the Dutch decision to phase-out electricity production from coal by 2030.
For a government struggling to find revenue to boost a COVID-19 battered economy, options of appeal against the arbitration award are limited and it may not have the financial bandwidth for such a payout.
UK-based Cairn Energy Plc has threatened that it may be forced to begin attaching Indian assets including bank accounts in different world capitals, unless the government resolves the issue.
The owner of Keystone XL — TC Energy (previously TransCanada) — used NAFTA to launch a US$15 billion lawsuit in 2016 after President Barack Obama cancelled the project.
Investors have written to the Indian government as well as the governments of the US and UK seeking adherence to the award of a tribunal at the Permanent Court of Arbitration in The Hague
The battle between ConocoPhillips and Vietnam result could mark a significant shift in the way huge multinationals fight off the threat of taxes from desperate revenue authorities in developing countries.
Alberta believes there was a “very solid” legal basis to seek damages under international free trade agreements if the pipeline is effectively killed, said Alberta Premier
In 2020, foreign investors filed at least 51 known cases demanding huge sums from governments struggling to fight a historic pandemic.
A two-day conference of the 54 parties to the Energy Charter Treaty will attempt to move forward in reforming the little-known charter, decried by environmentalists for protecting fossil fuel investments and blocking international efforts to curb global warming.