Spain is the first nation to publicly call for abandoning the Energy Charter Treaty.
60% of secretive ECT tribunal decisions favor investors, critics say the mere threat of costly litigation has a chilling effect on climate ambition—prompting states to weaken policies in an attempt to discourage energy companies from arguing that certain measures do not meet the ECT's ambiguous standard of"fair and equitable treatment."hundreds of billions of dollars worth of fossil fuel infrastructure.in which 76 climate scientists warned E.U.
The ECT's 54 members, stretching from Western Europe through Central Asia to Japan, are meeting this week to negotiate the"modernization" of the nearly 30-year-old agreement.for the European Commission to prepare legal advice on walking out of the pact,"Countries that withdraw from the ECT are still subject to ISDS lawsuits for 20 years after they pull out thanks to a"zombie clause" in the agreement.
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