Energy & environment

Most investor-state disputes (ISDS) have concerned environmental matters. Corporations are using the ISDS system found in trade and investment agreements to challenge environmental policies. As of end of 2019, 41% of all ICSID cases were energy and natural resources-related.

Most well-known cases include:

• Lone Pine Resources (US) vs. Canada: the investor challenged Quebec’s moratorium on the controversial practice of hydraulic fracturing, or fracking, for natural gas. The provincial government declared the moratorium in 2011 so as to conduct an environmental impact assessment of the extraction method widely accused of leaching chemicals and gases into groundwater and the air. Case pending (NAFTA invoked).

• Bilcon (US) vs. Canada: the US industry challenged Canadian environmental requirements affecting their plans to open a basalt quarry and a marine terminal in Nova Scotia. In 2015 the ISDS tribunal decided that the government’s decision hindered the investors’ expectations. Bilcon won and received US$7 million in damages, plus interest (NAFTA invoked).

• Vattenfall (Sweden) vs. Germany: in 2007 the Swedish energy corporation was granted a provisional permit to build a coal-fired power plant near the city of Hamburg. In an effort to protect the Elbe river from the waste waters dumped from the plant, environmental restrictions were added before the final approval of its construction. The investor initiated a dispute, arguing it would make the project unviable. The case was ultimately settled in 2011, with the city of Hamburg agreeing to the lowering of environmental standards (ECT invoked).

Photo: Kris Krug / CC BY-NC-ND 2.0

(March 2020)

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Gestión | 17-May-2016
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Business Recorder | 16-May-2016
Argentina has agreed to pay $217 million to two energy companies in long-standing arbitration cases stemming from its 2001/02 economic crisis.
Reuters | 9-May-2016
Engie a confirmé avoir déposé une demande d’arbitrage contre la Hongrie auprès du Centre international pour le règlement des différends relatifs aux investissements.
Reuters | 9-May-2016
The proceedings are based on the Energy Charter Treaty and seek relief for breaches of the principle of investor protection in the gas sector.
Nicolás Boeglin | 6-May-2016
La reciente demanda contra Panamá registrada ante el CIADI por una empresa minera norteamericana constituye una nueva señal sobre la peligrosa deriva del arbitraje inversionista-Estado en América Latina.
IOL | 6-May-2016
AngloGold Ashanti said it filed a dispute with Ghana at an international investor arbitration panel due to the country’s failure to protect the company’s Obuasi operation from illegal miners.
Salva la Selva | 2-May-2016
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Tele Sur | 30-Apr-2016
The Ecuadorean government is being forced to use money that could go toward relief efforts to instead pay off a multinational oil company.
Washington Post | 28-Apr-2016
A Dutch court found that Russia doesn’t have to pay $50 billion to Yukos shareholders. Here’s the big catch: international investment law is so complicated that Russia might have to pay anyway.

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