Energy lawsuits pact seen threatening Paris climate deal
Fear of multi-billion-euro lawsuits from fossil fuel investors is putting the Paris agreement on climate change at risk, one of the deal's architects has warned.
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These days, it is hard to find anyone arguing with a straight face that the Energy Charter Treaty (ECT) has been a good thing for the climate. It is variously described as a “relic”, a “dirty energy club” or a “climate roadblock” in the service of greedy companies. However, those same voices decrying it have now been put in the awkward position of having to defend it, and are begging countries like France, Spain, Poland, Italy and the Netherlands to reverse their withdrawal decisions.
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Energy companies have been suing European governments for billions of euros to protect their fossil fuel investments in recent years via an obscure treaty adjudicated in secret arbitration courts. But that could be about to change.