An energy investment treaty has been holding Nord Stream 2 hostage
The German government has been worried about being sued by the fossil fuel companies behind the Russian gas pipeline under the Energy Charter Treaty.
The German government has been worried about being sued by the fossil fuel companies behind the Russian gas pipeline under the Energy Charter Treaty.
The RWE case against the implementation of the Dutch climate target provides additional evidence that EU climate law needs provisions to end protection of foreign investment in fossil fuels.
EU ministers attending the Energy Charter Conference on 16-17 December should work on the collective withdrawal from the ECT if other contracting parties oppose the phase-out of fossil fuels from the treaty’s binding provisions.
The German Presidency should end the comedy of the modernisation of the Energy Charter Treaty and work on a decision to withdraw en masse from the treaty without further delay.
The Energy Charter Treaty (ECT) is a multilateral investment agreement solely dedicated to protecting foreign investments in energy supply. By January 2020, the Treaty has been ratified by 53 countries and the European Union/Euratom. Under the ECT regime, foreign investors can sue host States through arbitration tribunals, typically, composed of party-appointed private lawyers.
The Energy Charter Treaty (ECT) is a multilateral investment agreement solely dedicated to protecting foreign investments in energy supply. By January 2020, the Treaty has been ratified by 53 countries and the European Union/Euratom. Under the ECT regime, foreign investors can sue host States through arbitration tribunals, typically, composed of party-appointed private lawyers.
The EU taxpayer is the main loser from the continuation of the Energy Charter Treaty which locks Europe into carbon and energy injustice at a high cost to taxpayers.
The EU and its member states should collectively withdraw from the Energy Charter Treaty, which protects fossil fuel investments, and go to the UN Climate Summit in New York with a call to develop a ‘Treaty for the Non-Proliferation of Fossil Fuels’, argues Yamina Saheb.