The Energy Charter Treaty (ECT) is a little-known investment treaty that is doing big damage to fast, effective climate action. This treaty from the 1990s grants sweeping rights to investors in the energy sector. Under the ECT, corporationscan sue governments for decisions that negatively impact their profits. Policies like shutting fossil fuel plants or cancelling polluting infrastructure projects can be the subject of compensation claims. When investors win cases, states must pay compensation – even though the decision is in the interest of people and the environment. Claims can mount to several billions of euros, and are paid from public money. The very existence of this treaty is having a ‘chilling effect’ withregulators backing away from bold climate action for fear of compensation claims. Cases exist against The Netherlands, Slovenia, Spain, Bulgaria, Italy, and many more countries. (Read more:
https://friendsoftheearth.eu/energy-charter-treaty/) Governments are negotiating to ‘modernise’ the treaty. But, the ECT is at its heart incompatible with the phase-out of fossil fuels we need in the face of the climate emergency. Friends of the Earth Europe, with allies in the climate and trade justice movements, are calling on governments to terminate, or withdra from, the ECT. The ongoing negotiations have a deadline in June for significant progress to be made. Now is the time to send a strong message that citizens want adequate climate action, not protections for investors. This is why Friends of the Earth is going on tour with a giant inflatable dinosaur from April-June. With tour stops in 9 countries confirmed so far, we will organize a series of stunts to say that like dinosaurs, the ECT is a thing of the past, and to pile pressure on negotiators to exit the ECT. We are seeking funds to enhance the planned tour, specifically for public outreach