Corporate Europe Observatory

Exposing the power of corporate lobbying in the EU

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Profiting from injustice

How law firms, arbitrators and financiers are fuelling an investment arbitration boom

A small club of international law firms, arbitrators and financial speculators are fuelling an investment arbitration boom that is costing taxpayers billions of dollars and preventing legislation in the public interest, according to a new report from the Transnational Institute and Corporate Europe Observatory.

Investment arbitration cases are brought by foreign investors against governments following alleged breaches of international investment agreements. Emblematic cases include tobacco giant Philip Morris suing Uruguay and Australia over health warnings on cigarette packets; and Swedish energy multinational Vattenfall seeking $3.7bn from Germany following that country’s decision to phase-out nuclear energy.

Profiting from Injustice uncovers a secretive but burgeoning legal industry which benefits from these disputes – at the expense of taxpayers, the environment and human rights. Law firms and arbitrators, who are making millions from investment disputes against governments, are actively promoting new cases and lobbying against reform in the public interest.

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The recent leak of many parts of TTIP, allowing us for the first time to read the negotiating position of the US, confirms our most serious concerns.

Dangerous attacks against regulations protecting public interest wouldn't be prevented by 'new' proposals.

Despite growing concerns among the European public, the new EU proposal on regulatory cooperation in TTIP does nothing to address the upcoming democratic threats.

The ''Trade Secrets Protection'' Directive due to be voted on by MEPs on April 14 would give companies new legal ammunition to prosecute journalists and news organisations publishing their documents and information.

An Open Letter to Heads of State and Government of the European Union

You have probably never heard of AMISA2. But it turns out that AMISA2 and its predecessor AMISA have had staggeringly regular high-level access to senior EU decision-makers for decades. It is a quiet but persistent presence operating in the shadows of the Brussels bubble.

A revised Emissions Trading Directive is like red meat for the hungry pack of lobbyists that work the corridors of Brussels’ political institutions. Even minor differences in how pollution permits are handed out can result in profits or savings of millions of euros to big polluters.

Read our submission to the EU lobby transparency register consultation and find out why the present, voluntary system just isn't enough.

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