Investors warned over UK energy treaty exit
- Admin
- May 15, 2024
- 1 min read
European renewable energy investors are urged to find alternative means to protect investments due to the coordinated withdrawal of several EU member states, including France, Germany, and Italy, from the Energy Charter Treaty. The UK and EU's exit is driven by concerns about the treaty favoring fossil fuel companies over clean energy policies. Over 150 arbitration cases, 91 of which involve renewable energy investments, have been filed under the ECT. Due to failed modernization attempts aligning with the Paris Agreement, the ECT faces a mass exodus. The treaty protects existing investments for 20 more years, but new investments face uncertain legal protection.
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