Corporate Europe Observatory

Exposing the power of corporate lobbying in the EU

Battle For Corporate Investment Rights

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New investment powers, granted to the EU Commission under the Lisbon Treaty, will still allow multinational companies to claim compensation when national laws designed to protect the environment or public health damage their profits, according to proposals put forward by the EU Commission this month. The draft legislation on the protection of international investment – an area previously governed by member states – was an opportunity to change the current system under which national agreements frequently give companies investing overseas excessive protection from legislation in the host country. But following an intense lobby campaign from industry and EU member states led by Germany and the UK, the Commission has opted to protect the status quo. The Commission’s proposals will now be considered by the EU Parliament and the Council.
 

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There are daily meetings between the financial lobby and the Commission, and they’re mainly about issues crucial to society at large. Despite this, the public is only able to access piecemeal information on what is discussed, and even then with unacceptable delays. Given the huge impact the financial sector has had on society, keeping this lobbying behind closed doors is deeply problematic. Transparency reform is needed.

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Corporate Europe Forum