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EU Ditches Energy Charter Treaty? - Foreign Affairs - Nairaland

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EU Ditches Energy Charter Treaty? by bn365: 7:57am On Oct 22, 2022
Arbitration claims challenging government actions made in the ''public interest'', such as environmental policies or the protection of human rights and local communities, are on the rise. In particular, privileges granted to foreign investments are increasingly in conflict with efforts to curb climate change and protect the natural world.

Using a mechanism known as investor-state dispute settlement, or ISDS, the fossil fuel industry has sued governments and obtained record-breaking damages awards that cost taxpayers millions of dollars.

France has decided to withdraw from the Energy Charter Treaty
The decision follows announcements from Spain, the Netherlands, and Poland that they will withdraw from the pact. Germany and Belgium have signaled they are considering their options.

EU member countries agreed last year that the treaty needs to be revised to discourage all further investments in fossil fuel-based energy infrastructure projects, “unless they are fully consistent with an ambitious, clearly defined pathway towards climate neutrality," in line with United Nations targets.

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