"Simply put, this rule lets big oil companies sue sovereign states and demand exorbitant amounts of money if they are prohibited from digging up fossil fuels. In 2022, the UN’s climate science advisory group, the Intergovernmental Panel on Climate Change, documented ISDS as one major challenge for fossil fuel phaseout"

#FossilFuels #ISDS #ClimateEmergency

How big oil companies can slow the green transition by suing governments that ban fossil fuels
https://theconversation.com/how-big-oil-companies-can-slow-the-green-transition-by-suing-governments-that-ban-fossil-fuels-281972

Governments need to be able to regulate in the face of the geopolitical landscape and to meet sustainable development goals, which will affect foreign investments on their soil and might trigger #ISDS arbitration claims

https://www.bilaterals.org/?geopolitics-the-uk-and-investor

Wingtech, the Chinese parent of the Dutch chipmaker Nexperia, will commence #ISDS arbitration proceedings against the Netherlands over the government takeover, seeking more than US$8 billion

https://www.bilaterals.org/?chinese-owner-of-nexperia-demands

First #ISDS arbitration claim brought against Ireland by a UK fossil fuel investor concerning refusal to grant a licence to exploit an oil and gas field

https://www.bilaterals.org/?icsid-registers-lansdowne-oil-gas

#ISDS arbitration undermines peoples’ struggles to hold corporations accountable for human rights violations, economic losses and environmental damage

➡️Examining the nexus between energy transition and trade deals is crucial for a just transition agenda

https://www.bilaterals.org/?unpacking-the-asean-canada-fta

Across Africa, there is increasing concern about outdated agreements and the #ISDS system, which allows investors the protection rights over the national interests, and shrink decisions making spaces, @ActionAidNG has observed

https://www.bilaterals.org/?actionaid-worried-over-outdated