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Green NGOs demand EU dumps controversial energy treaty
Green groups have renewed their demand for the EU and member states to jointly withdraw from the controversial Energy Charter Treaty (ECT).
The obscure treaty that could kill a global green recovery
The Energy Charter Treaty, with 53 signatories, allows energy companies to sue states that make their business unprofitable.
EU must end investment protection in the fossil sector
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.
Countries serious about climate change should leave the Energy Charter Treaty, says former ECT official
Interview with Yamina Saheb, former head of unit in the Energy Charter Treaty Secretariat .
New NAFTA trade deal deepens oil and gas dependency during climate crisis
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.
Eiser Infrastructure Limited and Energia Solar Luxembourg S.à.r.l. v. Kingdom of Spain
On June 11, 2020, an ICSID ad hoc committee issued a unanimous decision to annul a €128 million award against Spain in its entirety.
Netherlands Supreme Court accepts Russia’s appeal of $57 billion verdict in favor of ex-Yukos shareholders
The Supreme Court of the Netherlands has agreed to consider Russia’s appeal against a lower court ruling, which awarded multi-billion-dollar compensation to former shareholders of the defunct Russian oil giant, Yukos.
NextEra wins millionaire renewables lawsuit against Spain
The ICSID has lifted the suspension on the execution of the €290 million award NextEra obtained a year ago.
Africa should resist acceding to the Energy Charter Treaty
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.
The environmental bias of trade policy
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.
Companies sue states for ­ climate-protection measures
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.
Corporate lawsuits could devastate poor countries grappling with Covid-19
Wealthy corporations may use trade courts to keep public health measures from cutting into their profits.
Wind farm owner sues Romania at WB’s arbitrage court
Cyprus-based offshore EP Wind Project (Rom) Six Ltd claims that Romania has breached the Energy Charter Treaty.
Venezuela brands US-backed Citgo sale ‘an act of modern piracy’
The dispute with Crystallex follows a ruling by the International Centre for Settlement of Investment Disputes (Icsid), an international arbitration institution set up by the World Bank.
Client alert: What are the implications of the COVID-19 pandemic for States and investors under the Energy Charter Treaty
The COVID-19 pandemic has led States to adopt various public health measures that adversely affect foreign investors and exacerbate broader economic issues. In this climate, there is significant potential for disputes under the ECT.
Coal generator uses investment treaty to fight Netherlands coal phaseout
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.
Phase One US-China trade deal fails in energy and beyond
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.
Yukos shareholders seize Russian vodka assets in the Netherlands
Shareholders in the now defunct Russian oil giant Yukos have seized Netherlands-based assets of two well-known vodka brands controlled by the Russian state in their most recent legal move to obtain $57 billion in damages from Moscow.
Russia appeals decision of Hague Court of Appeal on Yukos
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.
Energy dispute deepens between Mexico and foreign allies
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.