European governments are finally starting to abandon a treaty that could stop them taking much-needed climate action and that protects the interests of fossil fuel companies and investors.
The energy charter treaty (ECT), which has been signed by 53 European and Asian countries, was drafted to protect energy firms in formerly Soviet countries from falling into state ownership and being subject to excessive regulation.
But the ECT has become outdated. The continued protection of fossil fuel investors – and the suing of governments for millions of euros – contradicts the efforts of European countries to curb their emissions in line with the 2015 Paris climate agreement. The legitimacy of the treaty has also come under fire.
