![]() The CCC’s recent report said the UK government’s targets for climate action were being missed on nearly every front and that political leadership was missing. “The main goal of the ECT is to promote and protect fossil fuel investment.” “The treaty is not consistent with the Paris climate agreement,” said Patrice Dreiski, a former ECT executive. ![]() ![]() The Guardian revealed in November that the ECT court system was accused of institutional bias, self-regulation issues and perceived conflicts of interest. We continue to monitor developments of the evolving situation.” Skidmore said the UK’s support of ECT reform was “no longer credible”. We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply.Ī spokesperson for the Department for Energy Security and Net Zero said: “The UK has been a strong advocate for modernising the ECT, recognising the need to align it with modern energy priorities, international treaty practice and international commitments on climate change. For more information see our Privacy Policy. Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. But the CCC said: “As momentum gathers behind the ECT exit, departing parties may come together to agree not to apply the sunset clause to each other.” The CCC said “a critical mass of exiting parties” would bring “bargaining power”.Ĭhris Skidmore, a former UK energy minister who led a net zero review for the government in 2022, said in March that the ECT was being “weaponised by fossil fuel companies in order to sue governments for introducing climate policies” and was a “threat to the UK’s net zero ambitions at home and its credibility abroad”. The ECT has a binding 20-year sunset clause for existing assets. Some renewable energy companies have also used the ECT to sue for compensation after subsidy changes. ECT critics have estimated the compensation to fossil fuel companies could rise to more than $1tn. The Netherlands is facing a $1.4bn (£1.1bn) ECT challenge over its phase-out of coal and UK oil firm Rockhopper was awarded $190m in a case it brought against Italy. The proposed reforms would actually keep oil and gas projects protected for at least 10 more years – a decade that is crucial for the climate transition if we are to have a livable future for all.” Global carbon emissions must be reduced by almost half by 2030 to keep global heating below the internationally agreed goal of 1.5C. ![]() But Rickard said: “The CCC is clear that attempts to patch up the treaty have failed. ![]() The UK supported recent attempts to reform the ECT. The UK announcing its exit now could really tip the balance.” Numerous European countries have committed to leaving, but they’re still discussing the kind of coordinated withdrawal that would neutralise the sunset clause in the treaty and maximise the benefits of leaving. Cleodie Rickard, a trade campaigner at Global Justice Now, said: “This welcome recommendation comes at a crucial time for the future of this climate-wrecking treaty. ![]()
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