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.
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
Leaked TTIP documents show the EU is promoting unrestricted trade in fossil fuels and working to limit the implementation of clean energy policies, just months after the bloc proudly claimed to have “been at the forefront of international efforts towards a global climate deal”
A debate about the impacts of the Investor to States Disputes Settlement on the environment, between representatives from the European Commission and Civil Society Organizations from Europe, US and Canada was held in Brussels during the last negotiations round of the Transatlantic Trade and Investment Partnership
Countries around the world have reached a critical moment in the fight against climate change. Last year, hundreds of thousands of people marched in the streets demanding climate action, more than 190 countries reached a climate agreement in Paris, and renewable energy became more affordable and accessible to communities across the globe. Meanwhile, in sharp contradiction to that, countries negotiated new trade deals that would empower fossil fuel corporations to undermine the exact climate and conservation policies that are needed to tackle the climate crisis.