An axe to climate action - 10 Reasons the EU and governments must quit the Energy Charter Treaty

The Energy Charter Treaty (ECT) is a major obstacle to fast and effective action on the climate and environmental crisis. This little-known treaty from the 1990's, signed by 53 countries plus the EU, grants sweeping rights to big corporations. The fossil fuel industry is using it to sue governments and sabotage the energy transition. For the sake of a liveable climate, the Energy Charter Treaty should be disbanded. Rights for corporations - such as the possibility for them to sue states for public policies that affect their economic interests - are being used by fossil fuel companies to challenge climate action, so they can continue to profit from burning oil, coal and gas. Bold climate action, environmental protection and just transition policies have never been more urgent. Yet it is not widely recognised that those same policies are being deterred, and the costs increased, by this treaty. Friends of the Earth Europe has compiled 10 reasons why the ECT is a harmful treaty and why the EU and its member states must step out of it now: 1 - It protects and promotes fossil fuels; 2 - It helps the fossil fuel industry undermine climate action; 3 - It has no binding climate objectives; 4 - It is not compatible with EU and governments' commitments; 5 - It can hinder renewable energy; 6 - It obstructs environmental protection; 7 - It makes tax payers pay for the costs of big polluters; 8 - It is an obstacle to a just transition and a democratically controlled energy system; 9 - It will export a dirty energy model worldwide; 10 - Reform is doomed to fail