The Energy Charter Treaty (ECT) could pose a major threat to the efforts of the EU and its member states to achieve their climate goals, according to new analysis by European Investigation. The group of journalists assessed the magnitude of this threat by looking at the NGO’s analysis “Global energy monitoring“and”International oil change“, a research and advocacy organization. Oil and gas fields, coal-fired power plants, gas-fired thermal power plants, liquefied natural gas and related gas pipelines.
Signed in 1994 and in force since 1998, the treaty is still little known. It currently has 55 signatories and signatories, including the EU, and focuses on four different areas: protection of foreign investment, non-discriminatory conditions for trade in energy materials. , resolving disputes between investors and host countries, and promoting energy efficiency.
The fourth sector is even intended to minimize “the environmental impact of energy production and use“. But this looks ambitious, as the pact is primarily used by European companies and investors to sue member states – or threaten to do so.
In fact, if a government violates the principle of “fair and equal treatment”, investors or energy companies can sue countries before the international tribunal for billions of euros. …