An international treaty that hamstrings governments’ ability to make climate policy is still in force – and an attempted overhaul has not worked. This is why the EU and its member states need to walk away from the Energy Charter Treaty.
The text of the agreement in principle to modernize the Energy Charter Treaty leaves unanswered too many crucial questions about the possibility of further fossil fuel carveouts and the exact timing of its entry into force.
Business & Human Rights Resource Centre | 12-sep-2022
Now the Covid-19 pandemic is no longer in the headlines in many parts of the world, the risk corporations will use investment treaties to claim compensation from governments to cover their losses during these exceptional times is increasing.
It’s a portent of claims Australia may face from British companies invested in Australia’s fossil-fuel industries if the United Kingdom gets its way and joins the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.