Is it possible to take urgently needed action on climate change while simultaneously protecting the fossil fuel industry, the very cause of climate imbalance?
Faced with plunging profits and a climate crisis that threatens fossil fuels, the industry is demanding a trade deal that weakens Kenya’s rules on plastics and on imports of American trash.
Ascent Resources Plc and its subsidiary Ascent Slovenia Ltd have formally notified Slovenia of the existence of disputes under the UK - Slovenia bilateral investment treaty and the Energy Charter Treaty.
Green groups have renewed their demand for the EU and member states to jointly withdraw from the controversial Energy Charter Treaty (ECT).
The Energy Charter Treaty, with 53 signatories, allows energy companies to sue states that make their business unprofitable.
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 deal provides loopholes for oil, gas, and mining companies to operate across borders, and paves the way for US companies to export even more fracked natural gas across the border into Mexico.
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.
Most countries have implicitly created a carbon subsidy in trade policy. Using trade policy negotiations to decrease this environmental bias of trade policy could help address climate change.
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.
Wealthy corporations may use trade courts to keep public health measures from cutting into their profits.
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.
The Phase One trade deal had China committing to $30 billion in energy purchases. But US energy exports to China actually shrank by 33% in Q1.
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 measures would face legal challenges under Mexico’s commitments not just under the outgoing NAFTA but also its successor, the United States-Mexico-Canada Agreement, an industry source said.
The Energy Charter Treaty takes an axe to climate action.
A global tragedy at a high cost for taxpayers.