In These Times - When the European Union negotiated its first free trade treaty with Mexico beginning in 1997 and implemented in 2000, many of its provisions, such as deregulation of goods and services and trade liberalization, were lifted straight from the North American Free Trade Agreement (NAFTA), signed into law just five years earlier.
Seattle to Brussels Network (S2B), Cecilia Olivet, Marc Maes, Pia Eberhardt, Natacha Cingotti, Ante Wessels, Burghard Ilge, Peter Fuchs
27 November 2015
The European Commission unveiled a draft text for a chapter on investment protection and investor to state dispute settlement – now called the Investment Court System - to be included in the Transatlantic Trade and Investment Partnership (TTIP) with the US. This new system would replace the existing investor-to-state dispute settlement (ISDS) mechanism not only in TTIP but also in all ongoing and future EU investment negotiations.
Climate change action demands moving to an energy system based on renewables and leaving fossil fuels in the ground. International investment agreements, and particularly ISDS, stand in the way of energy transition. They limit the ability of governments to set the terms of their energy policy, including the support of renewable energy. Investment agreements such as the Transatlantic Trade and Investment Partnership (TTIP) and the Comprehensive Economic and Trade Agreement (CETA) will further empower corporations to challenge strong government action on climate change