Loading ...UK Quits Treaty Allowing Oil Firms to Sue Governments Over Climate Policy
The Energy Charter Treaty was originally designed to promote international investment in the energy sector and has historically provided protections for investors in fossil fuels.
Efforts to modernize the treaty, which the UK considers “outdated” in view of its net-zero policies and ambitions, have failed, resulting in a stalemate, which prompted the UK government to announce on Thursday that it would leave the Energy Charter Treaty (ECT) “after the failure of efforts to align it with net zero.”
The UK is not the only European country quitting the treaty—France, Spain, the Netherlands, and six other EU member states have announced similar moves.