Corporate Europe Observatory

Exposing the power of corporate lobbying in the EU

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No fracking way - how the EU-US trade agreement risks expanding fracking

A trade deal between the EU and the US risks opening the backdoor for the expansion of fracking in Europe and the US, reveals a new report by Corporate Europe Observatory and other groups. As part of the deal currently being negotiated, energy companies could be allowed to take governments to private international tribunals if they attempt to regulate or ban fracking and the dangerous exploitation of unconventional fossil fuels. Campaigners are urging the EU not to include such rights in trade deals.

This brief analyses the investor rights clause in the proposed Transatlantic Trade and Investment Partnership (TTIP) and how it could give special rights to companies to claim damages if they deem their investments (including future profits) are adversely affected by changes in regulation or policy.This  would make it much harder for countries to ban or impose strong regulations on fracking for shale gas and other unconventional fossil fuels, for fear of having to pay millions in compensation. The report also argues that TTIP could expand fracking by removing the ability of governments to control natural gas exports.

More broadly, TTIP could likely thwart governments’ efforts to address global warming and reduce dependency on fossil fuels, the report states. It calls on the EU and the US to exclude investor-state dispute settlement rights from the agreement and from other trade deals in the pipeline – including the EU-Canada Comprehensive Economic and Trade Agreement (CETA).

Watch a 5 minute news video on the issue:

Read the full report.

Read the press release.

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The International Civil Aviation Organization is expected to agree a new climate deal at its current assembly meeting. But its promise of “carbon neutral” flying through voluntary carbon offsetting is delusive, posing new threats to the environment and communities.

It's almost six months since EU Climate Commissioner Miguel Arias Cañete claimed to have negotiated an historic global deal to tackle climate change at COP21in Paris. The 3 May also marked a year and a half of Cañete being in the job. However, he and his his boss, Vice President of the Commission Maros Šefčovič, continue to give privileged access to fossil fuel players trashing the climate, who have enjoyed eight meetings to every one involving renewable energy or energy efficiency interests since the Paris deal was signed. Rather than a change of direction, it's business as usual for the European Commission following the Paris Agreement, which is great news for Big Energy but a disaster for those serious about tackling climate change.

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In light of the ITRE Opinion and forthcoming discussion on the proposed Directive to reform the Emissions Trading System (and “enhance cost-effective emission reductions and low-carbon investments”), CEO offers comments. 

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