You may have seen us going on about the Energy Charter Treaty (ECT) all over our socials, but not too sure what exactly we’re campaigning against? Continue reading to find out what all the uproar is for (or scroll straight down if you’re already convinced you want #NoECT and sign 2 petitions to stop it).
The ECT, or Energy Charter Treaty, is an international powerful tool in the hands of big oil, gas, and coal companies to discourage governments from transitioning to clean energy.
This International Agreement has 55 signatories: this includes all EU Member States except Italy, and also the European Union itself. The ECT allows foreign investors to bring claims against Member States before international arbitrators, when Member States make decisions which go against investors’ financial interests.
“The ECT is increasingly controversial – particularly due to its potential to obstruct the transition from climate-wrecking fossil fuels towards renewable energy” (CAN Europe). This Treaty enabled Uniper to bring a claim against the Netherlands, reportedly seeking 1bn euros in compensation, simply because the Netherlands decided to phase out coal from its energy mix. It is estimated that compensation sought by the fossil fuel industry in the name of the ECT could potentially reach €1.3 trillion by 2050.
It is European citizens’ taxes which pay for these claims, so not only does this Treaty threaten our ability to live decent lives in the future by halting progress in environmental regulation – it is also starving your wallet.
As infuriated about this as we are? Well, we’ve got some good news for you…
You can do something about it! There are two petitions you can sign to make sure your voice is heard.
European Parliament Petition: This petition is before the European Parliament and highlights the need to include measures in European Union Environmental Legislation to put an end to the protection of foreign investment in fossil fuels. ? http://bit.ly/ECTEUParliamentPetition
CAN Europe Petition: This petition was launched by Climate Action Network Europe, a coalition of groups, and is calling for EU Member states to withdraw from the ECT. ? http://bit.ly/ECT_CAN_Petition
We recommend signing both to increase our chances of there being some action taken against the ECT and to put pressure on the Members of the ECT who are meeting from March 2-5 to reform the agreement.
Written by: Sara Jata Goiri