A small club of international law firms, arbitrators and financial speculators are fuelling an investment arbitration boom that is costing taxpayers billions of dollars and preventing legislation in the public interest.
For a TTIP resolution that puts people, the environment and democracy before short-term profit and disproportionate corporate rights. 375 civil society organisations from across Europe call on EU decision-makers to protect citizens, workers, and the environment from the threats it poses.
Pietje Vervest, Timothé Feodoroff, Giorgina Garibotto et al.
06 March 2014
A briefing that explores how a trade agreement currently being negotiated between the US and the EU could open the way to multi-billion euro lawsuits from companies wanting to expand “fracking” for shale gas and oil.
Corporations, backed by lawyers, use international investment agreements to scavenge for profits by suing Europe’s crisis countries. While speculators making risky investments are protected, ordinary people have no such protection and – through harsh austerity policies – are being stripped of basic social rights.
Why should human rights, environmental and consumer advocate organizations all over the world that are working toward a world different from the corporate-led neoliberal dogma, pay special attention to TTIP?
This briefing analyses leaked proposals for so-called investor-state dispute settlement under the proposed EU-US deal and reveals a determined lobby campaign from industry lobby groups and law firms to grant unprecedented rights to corporations to sue governments for legislation and regulations that interfere with their profits.
Demands for tax justice have resounded worldwide, with growing anger at the tax practices of corporations such as Google and Starbucks. Yet trade and investment agreements are already constraining the ability of governments to impose fair tax deals and with the Transatlantic Trade and Investment Partnership (TTIP) this could become worse.
The European Commission recently issued two papers to address growing concerns among civil society and the wider general public over inclusion of the increasingly controversial investor-state dispute settlement mechanism (ISDS) in the EU-US Transatlantic Trade and Investment Protection agreement (TTIP). The Seattle to Brussels Network responds to the arguments and the Commission’s proposals to amend the flaws in the ISDS system.
For fairer and more democratic societies, people need to claim control over the EU’s trade and investment policy processes. We need to change EU’s trade and investment policies and the way in which decisions are made.
MintPress News - 'The ability to enact effective and fair tax systems to finance vital public services is one of the defining features of sovereignty,' says Global Justice Now—one that is threatened by corporate trade deals.
Citizens and policy makers around the world are increasingly questioning the trade agreement system, especially the investor-state dispute settlement mechanism (ISDS) that enables foreign investors to bypass the legal system of host states and sue governments before private tribunals for any policy, democratically passed law, or judgment of a court that adversely affects them.
Corporations in Western Europe are suing Central and Eastern European countries at international arbitration tribunals through a vast web of intra-EU Bilateral Investment Treaties (BITs). Yet while the European Commission has questioned the validity of these BITs, Netherlands, Germany, and the UK, oppose their termination.
Cecilia Olivet, Pietje Vervest, Pia Eberhardt, Fabian Flues
15 April 2015
In response to growing public criticism of international investment law, a new lobby group has emerged, EFILA, seeking to influence European officials. This briefing exposes how EFILA represents an attempt by the arbitration industry to fend off much-needed reforms in order to protect a highly lucrative business.
Central and Eastern European (CEE) countries find themselves at a crossroad regarding their investment protection policies with the US. This briefing provides evidence that shows that including investment arbitration in the Transatlantic Trade and Investment Partnership (TTIP) will worsen the capacity for CEE governments to regulate.