Harmful Energy Charter Treaty plans expansion

The remaining participants in the Energy Charter Treaty are seeking to broaden its scope by bringing in more members of “petroleum-exporting countries”, as disclosed in notes from the recent Energy Charter Treaty Conference held on 20 November.

The Energy Charter Treaty (ECT) is an investment treaty involving 50 nations that enables foreign companies to sue governments through the investor-state dispute settlement (ISDS) mechanism, known as “corporate courts”. With potentially billions at stake, the ECT has already made at least 158 claims, making it the most litigated ISDS agreement.

According to notes from the recent ECT Conference: “In line with CONEXO policy objectives, the Secretariat has reached out to the Organisation of Petroleum Exporting Countries (OPEC), and, in view of exploring potential cooperation, a technical meeting between both organisations was organised in June 2023”.

CONEXO, which stands for “Consolidation-Expansion-Outreach”, represents the ECT’s strategy for securing new member accessions. Presently, there are 56 signatories and contracting parties to the Energy Charter Treaty. However, the European Commission’s consideration of a coordinated EU withdrawal earlier this year poses a challenge to the treaty’s continuity.

Although the expansion policy was put on hold pending agreement on the modernisation process, reform proposals were for the third time removed from the conference agenda. The latest notes emphasise a 2024 priority: “lifting of the pause on accession, regardless of the modernization of the Treaty conclusions”.

The UK had set a November deadline to exit the treaty if modernisation was not agreed. As the deadline has passed, pressure mounts for the UK to withdraw from the treaty, especially with COP28 approaching. The All Party Parliamentary Group (APPG) on the Environment last week also added its voice to these calls in a published briefing.

Earlier this month, leaked documents revealed a Jersey-based oil-refining company is suing the EU, Germany and Denmark under the ECT for at least 95 million pounds over the imposition of a windfall tax.

Reference: Global Justice Now. (2023, 22rd November). Energy Charter Treaty: Plans for Expansion Revealed in Recently Posted Notes. Retrieved from https://www.globaljustice.org.uk/news/energy-charter-treaty-plans-for-ex...

And the official Notes from the ENERGY CHARTER SECRETARIAT are found here: https://www.energycharter.org/fileadmin/DocumentsMedia/CCDECS/2023/CCDEC...

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Harmful Energy Charter Treaty plans expansion

In this issue

Countries are not on track to achieve the 1.5°C target

Editorial: Canada not happy with EU Deforestation Regulation

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Ban fossil industry funding in medical research

India reaches record levels of dirty air … again

Targeting two pollutants at a single stroke

2023 from the corals’ perspective: heatwaves and backlashes

Action to triple renewable power and double energy efficiency

The importance of Electricity Market Design trilogues and recommendations

Phasing out coal in the EU by 2030 at the latest

Northern forests and climate change project

Flora and fauna of the Siberian forest

Forests are especially valuable natural resources in Georgia

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