As Ecuador’s new president, Lenin Moreno Garcés, gave his inaugural speech to the National Assembly members, and a number of invited Latin American presidents, an important question is what will change after the ten-year incumbency of his predecessor, Rafael Correa.
Cecilia Olivet, Jaybee Garganera, Farah Sevilla, Joseph Purugganan
24 May 2016
Mining firms have been one of the main corporate sectors worldwide to take advantage of investor-state dispute mechanisms to sue states for regulation of mining, having sued governments for a total of USD 53 billion so far. The Philippines, one of five countries worldwide with the highest overall mineral reserves, has a web of investment treaties which severely constrain the government's ability to regulate or close polluting mines. This legal straitjacket will become even tighter if the EU–Philippines Free Trade Agreement and the Regional Comprehensive Economic Partnership (RCEP) proceed.
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
Latin America is at the forefront of thinking on how to build a new sustainable economy that rejects consumerism and extractivism. An exciting compilation on new ideas such as Buen Vivir that are reshaping the global debate on how to live in harmony with each other and nature.
The European Union (EU) and their national governments are set to discuss increased shale gas extraction in Europe which will increase environmental and social harm as well as dangerous climate change.