ISDS Case Map
ECT
Energy Charter Treaty
Climate Change Committee recommends leaving energy charter treaty, which critics say is ‘weaponised’ by fossil fuel firms.
The European Commission proposed that EU countries jointly quit an international treaty that has been criticised for blocking efforts to fight climate change because its protection of energy investments extends to fossil fuels.
The European Commission is readying a proposal for EU countries to jointly quit an international energy treaty, after some governments already pledged to leave over climate concerns.
Zenith Energy Ltd, an international energy firm, filed a lawsuit against Tunisia on Wednesday, claiming financial damages of at least $48 million.
Spain has lost a bid to claim immunity in a London court in a 120 million-euro ($129 million) case over cuts to renewable energy incentives.
Given Lansdowne is a UK domiciled company it expects to pursue its claim in international arbitration pursuant to the investment protection regime established under the Energy Charter Treaty.
The European Union is considering a proposal to quit an international energy treaty that has become mired in climate change concerns, but leave an option for individual countries to stay in an updated version of the accord, a document showed.
If you’ve never heard of ISDS (investor-state dispute settlement) that’s not surprising. ISDS operates in the shadows. It’s a mechanism for solving disputes between parties in cases of foreign direct investment while offering legal protections for the investor. The investment is typically provided by a private company to a foreign ‘host state’.
This case concerns a dispute between Cavalum SGPS, S.A and the Kingdom of Spain about changes introduced by the respondent to the regulatory and economic regime for renewable energy projects.
The US fund Blasket Renewable Investments has activated the “default” clause that declares Spain at “technical impact” after the Government has not yet paid the pending awards for the cuts in the premiums for renewables.
