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1/6 Nobel laureate @JosephEStiglitz: Multinational companies will increasingly file massive cases against host countries when #ClimateChange policies affect their profits. #ISDS reform is needed to stop companies fighting climate rules. @SebastienMalo news.trust.org/item/201905290…
2/6 #ISDS cases can "instill fear of environmental regulations, #ClimateChange regulations because you know that it's going to be costly" for governments, @JosephEStiglitz said. "It's litigation terrorism." @IISD_ELP
3/6 @JosephEStiglitz: #UNCITRAL #ISDS reform process is a rare opportunity to end "pernicious litigation.” I’d add: the @Energy_Charter, which gives carbon-intensive energy investors access to #ISDS, must be aligned with the low-carbon transition. @ogeltdm transnational-dispute-management.com/article.asp?ke…
4/6 @JosephEStiglitz says there should be a “total moratorium” on treaties with #ISDS until reform is implemented to lift the secrecy that clouds cases, limit grounds for filing them, require prior use of domestic courts, and exclude from damages the loss of expected profits.
5/6 Most of @JosephEStiglitz’s suggestions (and many more of our own!) are reflected in The Creative Disrupters’ model treaty, winner of the 2018 #SthlmTreatyLab prize. Read about it here: sdg.iisd.org/commentary/gue…
6/6 @Trade_EU @EU_Commission @EUCouncil must cure the climate blindness of the @Energy_Charter, so that it will no longer give #ISDS to carbon-intensive investments, but only protect responsible energy investments aligned with the low-carbon transition. trade.ec.europa.eu/doclib/press/i…
P.S.: The Creative Disrupters' treaty also proposes phasing out #FossilFuelSubsidies—those investment incentives that are helping "to destroy the world" & are a bad way to deploy taxpayers' money, as @antonioguterres has said. @globalsubsidies @Ivetta_G news.trust.org/item/201905281…
