EU countries are voting with their feet, quitting the investor protection pact despite the EU’s efforts to reform it – but the European Commission warns it will be worse to be outside than in.
A wholly new international investment regime designed with climate and other global goals in mind could be used as a tool to accelerate the investments needed to address the climate crisis.
US senators argue that abolishing special economic zones known as ZEDEs would violate the provisions of CAFTA-DR, including the provision ensuring “fair and equitable treatment and full protection and security.”
UK-based Rockhopper Exploration has been dealt a blow in its protracted legal battle with Italy with the European nation applying to the ICSID to annul the €190 million payment it was ordered to make.
Climate, Environment, Sustainable Development, and Green Deal Minister Zakia Khattabi reiterated her support for Belgium’s withdrawal from the Energy Charter Treaty during the EU’s Environmental Council meeting.
Slovenia will follow the lead of countries such as the Netherlands, Spain and France and very likely withdraw from the Energy Charter Treaty, Infrastructure Minister Bojan Kumer announced.
A tribunal operating under the World Bank has ruled in favor of ten companies that initiated arbitration with the argument that Romania violated the Energy Charter Treaty by lowering incentives for their solar power plants.
Quitting the ECT, which protects fossil fuel investors from policy changes that might threaten their profits, was ‘coherent’ with Paris climate deal, Macron said.