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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A new report on the Comprehensive Economic Trade Agreement (CETA) reveals how the trade deal could make EU member states vulnerable to costly lawsuits from North American investors that threaten public interest.

A deregulation agenda is sweeping through the Commission & member states, particularly pushed by the UK.

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.

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.

Ahead of the Commission's proposal for a new ‘mandatory’ lobby transparency register, CEO takes a look at the summary of the public consultation on the subject: civil society's call for better transparency systems faces the spin of corporate lobby groups and trade associations, which appear to promote transparency values but recommend limited implementation, loopholes and toothless management.

CEO's reaction to the the Bahamas leaks, which revealed ex-EU competition commissioner Neelie Kroes' offshore links.

The European Commission's upcoming regulation proposal for acrylamide, a dangerous contaminant formed in many starchy foods when cooked at high temperatures, relies on codes of best practices developed by food industry lobby groups.

 
 
 
 
 
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The corporate lobby tour