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
The aggressive agenda of services corporations, with regards to TTIP and CETA, pushes for far-reaching market opening in areas such as health, cultural and postal services, and water, which would allow them to enter and dominate the markets. Those in charge of EU trade negotiations are rolling out the red carpet for the services industry, with CETA and TTIP reflecting the wishlist of corporate lobbyists.
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.
Pietje Vervest, Timothé Feodoroff, Giorgina Garibotto et al.
06 မတ်လ 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.