To tackle the climate crisis we need to keep fossil fuels in the ground. But governments that phase out coal, end gas production, or stop oil pipelines can be sued by corporations in private courts and be held liable for billions in damages. How? Under the Energy Charter Treaty (ECT). It is now up to European governments and the European Commission to pull out of the anti-climate ECT and stop its expansion to even more countries. Take action today to make this happen!
Amidst growing concerns that the Energy Charter Treaty (ECT) undermines urgent climate action, and a growing backlash against the treaty, its profiteers are spewing propaganda, promoting falsehoods about how the ECT attracts clean investment and how its 'modernisation' will fix any flaws. Cut through their rhetoric with our new myth-busting guide.
Tunisia has undergone radical changes in the past decade, and faces more in the years to come, if the EU has its way. As the first country to topple its dictator in early 2011, it set off a chain of revolutions across North Africa and West Asia that led to a political reconfiguration, the impacts of which are still playing out. While Tunisia is often seen as the ‘success’ story of the ‘Arab Spring’, the transition has actually been a lot more complex than that.
Peru, Mexico, Argentina, Bolivia and Guatemala are just some of the Latin American countries being hit by the investment protection regime in the midst of the COVID-19 pandemic. Foreign investors are threatening to bring claims before international arbitration tribunals due to the measures states are taking to mitigate the effects of the pandemic. Arbitrators are refusing to accept states’ requests to postpone ongoing arbitration cases and are obliging governments to disburse millions to investors at a time when public funds are required for more urgent priorities. Once again, the current crisis reveals the perverse consequences of the investor-state dispute settlement system and the urgent need to break free from it.
As governments take action to fight the COVID-19 pandemic and prevent economic collapse, big law firms are watching the virus too. Yet their concern is not to save lives or the economy. Instead the lawyers urge big business to challenge emergency measures in order to defend their profits. In a parallel corporate justice system called ISDS, states could face multi-million dollar lawsuits.
Cecilia Olivet, Lucía Bárcena, Bettina Müller, Luciana Ghiotto, Sara Murawski
20 April 2020
The fact that we are marking the 1000th ISDS claim in the middle of a profound social and economic crisis should be a wake-up call. Just as the pandemic is revealing profound health inequities and the dangers of agroindustrial food systems, it is also showing the dangers of trade and investment systems that put corporate profits above health and life.
The impact of the COVID-19 outbreak on the global economy is unprecedented. Whereas much of the attention is currently focused on the US, Europe and China, there are increasingly serious worries about the consequences for Latin America and Africa. The poor and vulnerable, mainly concentrated in the Global South1 and dependent on the huge informal sector, suffer the worst from crises. The Corona-crisis will not be an exception; unless swift, coordinated and unorthodox measures are taken.
The Energy Charter Treaty (ECT) has been exposed as the fossil fuel industry's powerful secret weapon to keep cooking the planet. It is now on the brink of a massive geographical expansion into Africa, Asia and Latin America, threatening to bind yet more countries to corporate-friendly energy policies. This briefing unpacks the risks for developing countries and the empty promises of those pushing for new countries to join.
The Corporation is capitalism's preeminent institution, dominating our economy, distorting our politics and reshaping society. TNI's ninth flagship State of Power report delves deep into the changing nature of the corporation in a time of digitalisation and financialisation and asks how we might best confront its power and construct alternatives.
By the end of August 2019, African States had been hit by a total of 106 known investment treaty arbitration claims. This represents 11% of all known investor-state disputes worldwide. Between 2013 and 2018, there has been an unprecedented boom of claims against African governments. During these last six years, they received more investor claims than the previous 20 years combined. This paper exposes how the international investment regime affects African countries.
The climate crisis is a manifestation of the systemic, capitalist crisis. We demand governments tackle the climate crisis by ending corporate power, facilitated by the trade and investment regime, that has long destroyed livelihoods and communities.
This corporate impunity has led to the wholesale looting of the biosphere, authoritarian responses and worsening social, political and environmental conflicts, particularly in the Global South.
Lora Verheecke, Pia Eberhardt, Cecilia Olivet, Sam Cossar-Gilbert
24 June 2019
Multi-billion dollar lawsuits bleeding cash-strapped nations, corporations reversing victories by environmental defenders and dazzling financial rewards for investors who perpetrated human rights abuses. Ten investor-state lawsuits which have been filed, threatened or decided since 2015, from all over the globe (in Europe, Africa, Asia and Latin America), demonstrate that ISDS is again and again used as a corporate weapon against the public interest. This report exposes the true nature of the ISDS regime through 10 recent stories.
The Transnational Institute (TNI) in the Netherlands is issuing an open call for essays, accessible papers, infographics and artistic collaborations for its forthcoming State of Power report launched in late January 2020 to coincide with the World Economic Forum in Davos. The focus for our ninth annual edition is on 'The Corporation'.
This report focuses on the significant threats to precautionary environmental, labour, consumer and public health policy from regulatory cooperation and “good regulatory practices” chapters within the EU-Canada Economic and Trade Agreement (CETA), US–Mexico–Canada Agreement (USMCA), and the currently parked EU-U.S Transatlantic Trade and Investment Partnership (TTIP).
This week, representatives of around 100 countries are meeting in New York to talk about investor-state dispute settlement (ISDS). ISDS is a legal instrument that multinationals can use to sue governments for billions. External experts and observers fear that the new negotiations will amount to ‘old wine in new bottles’. They believe that those who benefit from this instrument (powerful states and top lawyers from the ISDS sector) are controlling the debate.
A surprising concern has arisen recently on Wall Street: markets are becoming socialist. The culprit is passive investing, the use of quasi-automated vehicles that provide access to broad stock indexes with minimal cost and effort. The rush into such products – and the decline in human stock-picking – recalls, to some, a form of socialism.