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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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Stop ISDS campaign 2019

Two years after the suspension of the Transatlantic Trade and Investment Partnership (TTIP), EU member states and the European Commission are preparing mandates for new trade negotiations with the US. Once again corporate lobby groups are working to set the agenda for the talks, while the Commission covers over its links with big business.

Today, more than 60 international, European and national civil society groups have called on European decision makers to uphold the Paris Agreement and not mandate new trade negotiations with the USA.

Member states play a hugely important role in EU decision-making, but too often they act as middlemen for corporate interests. This new report combines case studies, original research, and analysis to illustrate the depth of the problem – and what you can do about it.

"Wait a minute. I don’t really get what ISDS is. ...." Here is our straightforward "What is What" on Investor-State Dispute Settlement - and why it's so dangerous.

Under ISDS corporations and the rich have sued governments for billions of euros – for anything from introducing health warnings on cigarettes to banning dirty oil drilling. Citizens, campaigners and social movements are uniting in 2019 to put an end to this parallel justice system for big business.

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