The claimants initiated ICSID arbitration against Spain, claiming breaches of the Energy Charter Treaty, including the fair and equitable treatment, umbrella and non-impairment clauses.
While policies aiming to phase out coal are necessary to tackle climate change, they may give rise to legal claims from companies whose investments are adversely affected by the low-carbon energy transition.
Civil society activists and scientific experts denounce the unsustainable practice of investment disputes under the Energy Charter Treaty.
When it issued three interim awards for Yukos, the arbitral tribunal noted that the principle of provisional application of treaties was recognized under Russian law.
A Dutch appeals court reinstated an international arbitration panel’s order that it should pay $50 billion compensation to shareholders in former oil company Yukos.
The energy company Vattenfall is demanding compensation from the Federal Republic of Germany. The costs for the arbitration proceedings could exceed 20 million euros this year.
This termination agreement marks the culmination of the European Commission’s and several Member States’ efforts to abolish intra-EU investment arbitration proceedings from the European legal order.
The leaked treaty for the termination of intra-EU BITs can be seen as the culmination of an ongoing effort by the EU Commission to discourage investment arbitration between Member States, reflecting a tension between public international law and EU law.
An obscure investment agreement, the Energy Charter Treaty, threatens to undermine bold climate action to transform Europe’s energy system.
For the first time, Sweden has recieved a notice of arbitration for banning the exploration and mining of uranium.
Climate campaigners are demanding that European Union countries pull out of the treaty unless they can negotiate an end to the pact’s investor-state dispute mechanism.
We – 278 environmental, climate, consumer, development, and trade related civil society groups, as well as trade unions – believe that the ECT is incompatible with the implementation of the Paris Climate Agreement.
Spain has offered an olive branch in its long-running legal battle with renewables developers. But the fight isn’t over yet.
An ICSID tribunal ordered Spain to pay two Dutch investors EUR 290.6 million in compensation for its breach of the FET standard under ECT
The government will offer subsidies which will allow investors that abandon litigation to maintain their current profitability rate of 7.39% until 2031.
An ICSID tribunal held that Spain violated Fair and Equitable Treatment under the Energy Charter Treaty.
In investor–state dispute settlement (ISDS), ironies do occasionally occur. Sometimes they’re bitter. Sometimes they’re carbon-intensive. Sometimes they’re radioactive.
Aura Energy lodged a claim against Sweden to recover the losses incurred from the Haggan uranium project following the country’s decision to ban uranian mining.
The EU taxpayer is the main loser from the continuation of the Energy Charter Treaty which locks Europe into carbon and energy injustice at a high cost to taxpayers.