While Prime Minister Boris Johnson is claiming that the UK is a ‘leader’ in global climate the reality is yet another broken promise.
ISDS (Investment to State Dispute Settlement) is the fossil fuel industry’s secret weapon. It is an extreme investor privilege in trade deals like the Energy Charter Treaty (ECT), that allows corporations to sue countries in secretive ‘corporate courts’ when governments make decisions that may negatively impact their projected profits.
The UK government remains a solid supporter of the climate-destroying ISDS regime, through its membership of the ECT and looks set to join up to new deals, like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) which will entrench the corporate courts regime. Public pressure works -- after you joined us in petitioning the PM Boris Johnson to drop corporate courts from the UK-Canada trade deal, the UK government has now confirmed that it will do so. But as the UK still has corporate courts in the vast majority of its trade deals, our fight must continue.
ISDS is used by fossil fuel companies to punish governments around the world for doing the right thing for the climate crisis. Right now, the fossil fuel industry is suing governments around the world for billions over their actions to reduce carbon emissions.
Read more about why we must abolish ISDS to combat the climate crisis.