Sep 8 ยท Last update 15 days ago.

What is the Energy Charter Treaty?

The original Energy Charter declaration was signed in 1991 and bulked out in 1994 into the Energy Charter Treaty, a legally binding multilateral agreement to help promote and protect international energy trade and transit, in addition to dispute resolutions in the international energy sector. Since the 90s climate change has becoming an increasingly apparent threat to the world and energy companies are now at the heart of not only the problem but also has to be part of any solution to this huge complex problem of our age. The Energy Charter Treaty has come under increasing scrutiny in recent years for standing in the way of the transition to renewable energy technologies. So, what is the Energy Charter Treaty? What is the history of this multilateral energy framework? Is it really standing in the way of combatting climate change?
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A big hurdle in tackling climate change
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A big hurdle in tackling climate change

The Energy Charter Treaty has come under a lot of criticism for its effect of curtailing the likelihood of a transition to renewable energy. This is mainly due to the fact that it gives corporate interests the power the sue governments for speculated future profit losses, effectively suing for imagined future profits using a legal framework that often leads to legal settlements in the billions. In effect then the Energy Charter Treaty is helping to derail any democratic consensus or efforts in deal with the pressing issue of climate change, while giving more importance to corporate earnings on fossil fuels than even potentially to life on earth.

tjm.org.uk/trade-deals/energy-charter-treaty cleantechnica.com/2021/08/23/energy-charter-treaty-allows-oil-companies-to-sue-nations-but-not-the-other-way-around

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