The Energy Charter Treaty: the fossil fuel companies’ secret weapon
The Energy Charter Treaty (ECT) is an investment agreement between 50 countries specifically for the energy sector. Fossil fuel companies are now using the treaty to challenge climate action and sue forbillions of taxpayers money. The risk of such cases is growing.
Germany, France, the Netherlands, Spain, Poland, Slovenia, Denmark and Luxembourg have all recently announced they are leaving the Energy Charter Treaty, and a coordinated withdrawal of the whole EU is being considered.
The UK should take the decision to exit the Energy Charter Treaty to protect taxpayers, the planet and our future.