Big energy sues Netherlands for €1.4 billion over coal phase out | DW News
The world needs to stop burning fossil fuels to limit the devastating effects of climate change.
The Netherlands has legislated to shut down all coal-fired power plants by 2030.
But now a German energy company is suing the Dutch government for 1.4 billion euros over that decision.
The company RWE is using a secretive international agreement to claim compensation from the Netherlands.
This case is possible because of the Energy Charter Treaty. This international agreement allows energy investors to sue governments for their lost assets and potential profits, resulting from regulatory changes.
The cases take place in closed-door hearings at a private tribunal in Washington DC. So far ECT cases have resulted in payments of more than $50 billion dollars to investors. And that’s just the judgements we know about - most remain secret.
When the ECT was created in 1991, it was promoted as a way of giving companies security when investing in countries without reliable legal systems. But it’s increasingly used within the European Union - something many EU governments deem to be unlawful.
Climat activists say this treaty is now a major blockage to addressing climate change.
Subscribe: https://www.youtube.com/user/deutschewelleenglish?sub_confirmation=1
For more news go to: http://www.dw.com/en/
Follow DW on social media:
►Facebook: https://www.facebook.com/deutschewellenews/
►Twitter: https://twitter.com/dwnews
►Instagram: https://www.instagram.com/dwnews
Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/dwdeutsch
#ClimateChange #RWE #EnergyCharterTreaty
Видео Big energy sues Netherlands for €1.4 billion over coal phase out | DW News канала DW News
The Netherlands has legislated to shut down all coal-fired power plants by 2030.
But now a German energy company is suing the Dutch government for 1.4 billion euros over that decision.
The company RWE is using a secretive international agreement to claim compensation from the Netherlands.
This case is possible because of the Energy Charter Treaty. This international agreement allows energy investors to sue governments for their lost assets and potential profits, resulting from regulatory changes.
The cases take place in closed-door hearings at a private tribunal in Washington DC. So far ECT cases have resulted in payments of more than $50 billion dollars to investors. And that’s just the judgements we know about - most remain secret.
When the ECT was created in 1991, it was promoted as a way of giving companies security when investing in countries without reliable legal systems. But it’s increasingly used within the European Union - something many EU governments deem to be unlawful.
Climat activists say this treaty is now a major blockage to addressing climate change.
Subscribe: https://www.youtube.com/user/deutschewelleenglish?sub_confirmation=1
For more news go to: http://www.dw.com/en/
Follow DW on social media:
►Facebook: https://www.facebook.com/deutschewellenews/
►Twitter: https://twitter.com/dwnews
►Instagram: https://www.instagram.com/dwnews
Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/dwdeutsch
#ClimateChange #RWE #EnergyCharterTreaty
Видео Big energy sues Netherlands for €1.4 billion over coal phase out | DW News канала DW News
Показать
Комментарии отсутствуют
Информация о видео
Другие видео канала
What’s Driving California’s Mass Exodus?The Pandemic That Lasted 15 Million YearsMicrochip shortage is slowing down the global economy | DW NewsAntarctica: A message from another planet | DW DocumentaryHow to get a good night's sleep | DW DocumentaryHow 800 Million Pounds of Himalayan Salt Are Mined Each Year | Big BusinessBangladesh: When will authorities clean up their act? | Conflict ZoneInternet from space | DW DocumentaryBetter brain health | DW DocumentaryThe Netherlands: Worlds Biggest Tax Haven?How the world is restructuring trade [without the US] | DW NewsConflicts over Nord Stream 2 reignite as Europe plans to sanction Russia over Navalny | DW NewsHow highways make traffic worseThe Electric Vehicle Charging ProblemEurope’s Belt and Road corridors into AfricaHow Russia and China are winning the vaccine diplomacy race | DW NewsWhat is Paprika Actually Made Of? | Food UnwrappedSpaceX Starship to attempting another flight with SN10 - Can they master the flip and landing!?Who Owns America’s Gas Stations?NBC Nightly News Broadcast (Full) - February 16th, 2021 | NBC Nightly News