Sign the petition to stop investors like Clive Palmer from suing our government for billions over climate change policies
AFTINET | 2 March 2024
Sign the petition to stop investors like Clive Palmer from suing our government for billions over climate change policies
Background
Some international trade agreements allow foreign investors to sue the Australian government if a change in law or policy reduces their profits, even if the change protects public health or the environment. The process, known as Investor-State Dispute Settlement or ISDS, enables foreign investors to bypass national courts and sue governments for billions of dollars in secretive international tribunals. Labor’s policy is to exclude ISDS from future trade agreements, and review it in existing agreements, partly inspired by its experience of being sued by the Philip Morris Tobacco Company over its 2012 plain packaging law.
Australian billionaire Clive Palmer has registered his mining company in Singapore and claimed to be a Singapore investor. He is using ISDS in two trade agreements with Singapore to sue the Australian government for $110 billion after a court refused his company coal mining permits for environmental reasons, including the mine’s contribution to increased carbon emissions.
Palmer’s cases join a growing global list of ISDS cases from fossil fuel companies against government decisions to reduce carbon emissions. A recent United Nations Report concluded that ISDS is a “major obstacle to the urgent actions needed to address the planetary environmental and human rights crises.”
Our petition asks the Trade Minister to implement Labor policy to exclude ISDS from future trade agreements, and speed up its review in existing agreements with a clear timetable. You can donate to the camapign here.
to-email
trade.minister@dfat.gov.au
Sign the Petition to the Trade Minister
Stop more ISDS cases like Clive Palmer suing Australia for hundreds of billions
Investor-state dispute settlement (ISDS) is a mechanism in some trade agreements that enables foreign investors to sue governments over policy changes they allege could affect their profits in secretive international tribunals. ISDS has been used by investors like the Philip Morris tobacco company and Clive Palmer to claim billions from the Australian governments for their health and climate change policies.
We ask you to:
- Maintain the Australian government policy of excluding ISDS in current negotiations and future trade and investment agreements.
- Expedite the review of ISDS provisions in current bilateral agreements and set a clear timeline for their review and removal.
- Implement your policy of review and removal of ISDS provisions from regional trade agreements, or failing that, negotiate side letters excluding the application of ISDS to Australia, as Australia has done with New Zealand and the UK in some trade agreements.
