Launch of European campaign against unfair investment agreements
Today an alliance of more than 150 organisations, trade unions and social movements in countries across Europe is launching a joint programme against unfair trade and investment agreements, and especially against the controversial Investor-to-State-Dispute-Settlement (ISDS) mechanism. Under ISDS, investors can bring complaints against states whose social and environmental legislation pose a threat to their profits.
In ISDS, the interests of investors, large companies and multinationals weigh more heavily than those of the people and the environment in the countries where investments are made. The new pan-European alliance considers that unacceptable and will be making itself heard on many fronts in the coming months. In addition, the alliance is calling for a 'UN Binding Treaty' for multinationals: a set of enforceable rules that multinationals have to comply with when making foreign investments. Many organisations from many different countries have been working on these rules for many years.
ISDS overshoots the mark
The ISDS mechanism was originally created to protect investors: the aim was to make it more attractive and less risky to invest less stable, poor countries. In the meantime it has been shown repeatedly that ISDS does not help in attracting investment, but is increasingly used to enable investors to block legislation or get it repealed. Countries that refuse to do so can expect enormous claims for damages, which are mostly paid from national budgets intended for schools, hospitals, sewage systems, etc. Both ENDS has been putting the problems with bilateral investment agreements and ISDS on the national and international agendas for many years, together with partner organisations in countries that have signed such investment agreements and where the chances of claims being made are high.
Fossil industry uses ISDS through letterbox companies in the Netherlands
We recently wrote a report together with environmental NGO Milieudefensie (in Dutch) entitled 'Protection for Climate Polluters', in which we conclude that ISDS is being used on a large scale by gas, oil and coal companies to combat governments wishing to reduce fossil extraction in their countries. These governments often scrap their plans in order to avoid high claims, delaying the worldwide energy transition and pushing up costs. The Netherlands plays a major role in this respect: the world's five largest oil and gas companies have at least 140 letterbox companies in this country, which they can use to claim investment protection. Consequently, many claims are submitted through the Netherlands, making it the second largest country in ISDS cases relating to fossil fuels.
Support the campaign!
We wholeheartedly support the campaign 'No VIP rights for multinationals: choose people and the environment', which is being launched in the Netherlands today between 12.00 and 13.00 in front of the Peace Palace in The Hague. See here the flyer with more information and the petition for you to sign.
We will keep you up to date in various ways during the campaign! If you want to make your voice heard, support the campaign. For information on how to do that, go to stopisds.org, under 'What can I do?'.
Themes
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Dossier /Investment treaties
Investment treaties must be inclusive, sustainable and fair. That means that they must not put the interests of companies before those of people and their living environment.
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Publication / 31 December 2020
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Letter / 26 June 2020
Letter to governments over wave of Covid-19 claims in 'corporate courts'
Countries could be facing a wave of cases from transnational corporations suing governments over actions taken to respond to the Covid pandemic using a system known as investor-state dispute settlement, or ISDS. 630 organisations from across the world, representing hundreds of millions of people, are calling on governments in an open letter to urgently take action to shut down this threat.
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News / 28 January 2020Both ENDS and SEATINI welcome ECT’s decision to halt expansion
Earlier this month, the Energy Charter Treaty (ECT) has decided to halt the geographic expansion to new member states, pending the finalization of the ongoing modernization process within the ECT. Both ENDS and our partner SEATINI, who amongst other things have been calling for this stop, welcome this decision.
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Publication / 30 October 2023
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Publication / 10 March 2016
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Publication / 21 September 2015
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Publication / 12 November 2020
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Publication / 4 April 2019
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News / 14 October 20165 alternative arguments against TTIP
Both ENDS will join the protest against trade treaties TTIP, CETA and TiSA on Saturday October 22nd in Amsterdam. These treaties will have negative impacts, not only in the Netherlands and Europe, but also - and maybe even more so - in developing countries.
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News / 14 September 2017What to think of the EU’s Multilateral Investment Court
Remember the widespread protests against trade agreements TTIP and CETA? One of the main worries was the Investor-State Dispute Settlement (ISDS) mechanism these treaties contain. Now the European Commission has proposed to set up a Multilateral Investment Court. Is that good news?
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Publication / 19 September 2016
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Press release / 7 May 2019Press release: European stakeholders call for immediate action in face of climate emergency
Brussels, 7 May 2019 - In an unprecedented Climate Action Call published today, a broad coalition is urging European leaders to take decisive action to respond to the climate emergency. Hundreds of European cities, regions, businesses, youth and faith groups and civil society organisations working on climate, human rights, litigation, mobilization, sports and health call upon leaders to profoundly alter the way we run our societies and economies to limit temperature rise to 1.5°C.
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External link / 31 May 2018Uganda: Time for a new and better agreement with the Netherlands (Annual Report 2017)
For several years now, Both ENDS has been drawing attention to the downsides of existing Bilateral Investment Treaties (BITs) between the Netherlands and countries in the Global South. In 2017, an important step was taken, when Uganda decided to terminate its BIT with the Netherlands, as advised by Both ENDS and our local partner SEATINI.
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Letter / 28 February 2023
175 CSOs call on world leaders to end OECD export finance for oil and gas
This joint position launched by 175 civil society organisations from 45 countries calls on world leaders to end OECD export finance for oil and gas, and explains how it can be done.
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Press release / 23 May 202360th anniversary of Dutch bilateral investment treaties no cause for celebration
On 23 May, the Netherlands celebrates 60 years of bilateral investment treaties (BITs). The first BIT was signed with Tunisia in 1963. These treaties were intended to make an important contribution to protecting foreign investments by Dutch companies. A study by SOMO, Both ENDS and the Transnational Institute (TNI), however, shows that in practice they mainly give multinationals a powerful instrument that has far-reaching consequences people and the environment worldwide.
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Dossier /Trade agreements
International trade agreements often have far-reaching consequences not only for the economy of a country, but also for people and the environment. It is primarily the most vulnerable groups who suffer most from these agreements.
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Publication / 23 May 2023
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News / 26 November 2024The Time to Rethink Investment Rules: Amplifying Civil Society Voices
At the core of the Fair, Green, and Global (FGG) Alliance’s mission is the commitment to building a just and sustainable world. As members of this alliance, Both ENDS, SOMO, and the Transnational Institute (TNI) recognise the urgent need to reimagine global investment frameworks. These frameworks, entrenched in outdated treaties such as Bilateral Investment Treaties (BITs) and the Energy Charter Treaty (ECT), often prioritise corporate profits over human rights, environmental sustainability, and social justice.
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News / 4 April 2024EU ECA fossil fuel phase-out tracker reveals EU Member States’ lagging commitment to Paris Agreement goals in export credit policies
Our new report titled EU ECA fossil fuel phase-out tracker by Both ENDS, Counter Balance and Oil Change International sheds light on the concerning lack of harmony between EU Member States' export credit climate policies.
The report was updated on April 17th, following new responses by Member States on their respective policies.
