We know what we have to do to solve the climate crisis. We must keep coal, oil and gas in the ground. But the fossil fuel industry has a secret powerful weapon to keep cooking the planet: The Energy Charter Treaty (ECT). It is 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. Visit: www.energy-charter-dirty-secrets.org
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.
Social organisations and movements, communities affected by the operations of transnational corporations, and others fighting for social and environmental justice around the world, will be in Geneva from October 23-26. This will be the third time the Global Campaign to Reclaim Peoples Sovereignty, Dismantle Corporate Power and Stop Impunity mobilises for the establishment of a United Nations (UN) treaty to impose on states and corporations international obligations to guarantee access to justice for affected communities, groups and individuals whose human rights have been violated by transnational corporations.
Geneva, October 27 - More than 200 delegates from more than 80 countries representing social movements, trade unions, and global civil society, including communities affected by the human rights violations of transnational corporations are actively involved this week in the third session of the open-ended intergovernmental working group for the elaboration of an International Legally Binding Instrument on Transnational Corporations (TNCs) and other Business Enterprises with respect to human rights.
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.
How fair is the investment arbitration system in Latin American and Caribbean (LAC) countries? Are investor-state disputes balanced between national and corporate interests? LAC countries are among the most affected by the investment arbitration system, representing 28.6% of all known investor-state disputes around the world. In particular, Argentina, Venezuela, Mexico, Ecuador, Bolivia and Peru account for 77.3% of the total number of claims against LAC countries. Analysis shows that the system so far heavily favours corporate interests. Investors have won in 70% of the cases brought against LAC countries. As a result, LAC States have already had to pay foreign companies 20.6 billion USD, which could cover Bolivia’s budget for health and education for four whole years.
Law is fundamentally limited in its potential to challenge corporations' power and their harm, because the law has been created to facilitate capitalist accumulation and therefore the rights of the property-owning class to force others to submit to its will. It cannot, therefore, be expected to have any emancipatory potential.
This close examination of investment arbitration lawsuits against Spain reveals that the Energy Charter Treaty (ECT) is benefiting only transnational investors and specialized law firms at the expense of Spain’s solar dream.
Signing international investment treaties, in the hope of attracting foreign investments, has been a central strategy for governments looking to improve economic development. The less known side of this story is that by signing investment treaties, governments are giving away the sovereign right to regulate in the interest of people and the environment. They also expose themselves to the risk of spending millions in law suits that could have been used to serve public needs. It’s time that the dark side of investment is put under the spotlight.
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.
China is one of the major investors in hydropower development in mainland Southeast Asia, yet Chinese involvement in hydropower varies across the region. Popular and expert viewpoints on China’s investment in hydropower also vary widely.
Join our 5-week online course for activists, trade unionists, policy-makers and journalists, to understand what makes the ECT dangerous, how the treaty is expanding and greenwashing its record, and what we can do about it.
In February 2012 Economic Land Concessions granted to private companies in Cambodia totalled 2,033,664 ha., and increased to 2,289,490 ha. by June 2013, covering 63 per cent of the country’s arable land. Foreign Direct Investment (FDI) inflows to Cambodia grew by 73 per cent from 2011 to 2012. The country, together with Myanmar and Vietnam, is referred to as one of the ‘emerging bright spots of the subregion’.
Susan George joined an expert panel on the first day of a meeting of a working group of the UN Human Rights Council, tasked with developing a treaty on transnational corporations and human rights. She spoke with the Global Campaign to Dismantle Corporate Power about the history of UN action on transnational corporations, the potential pitfalls of the current treaty negotiations, and the range of tax abuses, wage evasion, and investor protection weapons that transnational corporations can use.