Bern said it will not join the European Union’s proposed mass exit from a controversial energy investment protection treaty, sparking fears that fossil fuel companies will use Switzerland as a rear base to keep suing governments over climate action.
Berkeley said it also believes the rejection is not legal as it infringed on its rights under an international agreement known as the Energy Charter Treaty.
Investor rights in the expired North American Free Trade Agreement continue to undermine democratic decision-making and climate policy in Mexico, Canada, and the United States.
The Supreme Court of Netherlands refused to overturn $111.3 million arbitral award levied by the District Court of Hague, finding the Indian government liable for improperly terminating the Devas-Antrix deal in 2011.
The AFTINET submission provides evidence of the harmful use of ISDS over the last decade against public regulation on health, indigenous rights, the environment and most recently against policies to reduce carbon emissions.
The president has promised not to put anti-democratic investor-state dispute settlement mechanisms in future trade deals. But they are still in many existing ones.
Croatia will pay $255.7 million to Hungarian oil and gas company MOL under a ruling in an arbitration case at the International Centre for Settlement of Investment Disputes.
Since the company is registered in the Cayman Islands, a British Overseas Territory, it cites the Bilateral Investment Treaty between Belize and the government of the United Kingdom of Great Britain and Northern Ireland.