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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LEt’s kick Big Oil and Gas out of EU and UN climate policy. sign the petition now!

Over 450 public interest groups from across Europe and Canada today published an open letter urging legislators to vote against the Comprehensive Economic and Trade Agreement (CETA). They joined forces to defend people and planet against the threats posed by the EU-Canada agreement.

Report

The great CETA swindle

The EU-Canada trade deal CETA continues to draw heavy criticism. Behind the PR attempts to sell it as a progressive agreement - including recent declarations designed to reassure critics and gain support for its ratification - CETA remains what it always has been: an attack on democracy, workers, and the environment. It would be a major mistake to ratify it.

There are many potential winners of the awards for the worst lobbyist on TTIP, probably the most corporate dominated trade negotiations in history.
Business lobby groups are pushing hard for investor-state dispute settlement in TTIP and similar trade deals. If successful, this would expand the ability of corporations to sue governments in response to policies that allegedly limit their profits. Especially laws to protect human health and the environment would be on the line.

In the last years, controversies around the financialisation of nature and the concept of natural capital have fuelled divisions within civil society.

Over 450 public interest groups from across Europe and Canada today published an open letter urging legislators to vote against the Comprehensive Economic and Trade Agreement (CETA). They joined forces to defend people and planet against the threats posed by the EU-Canada agreement.

8 November 2016 saw the annual lobby fest between the Commission and BusinessEurope. Lasting for over seven hours, attracting four commissioners and the secretary-general, as well as 26 major corporate interests (who between them spend over €31,789,000 a year on EU lobbying), this is exclusive, privileged access at its most extreme.

New analysis of lobby meetings shows that EU Climate Commissioner Miguel Arias Cañete and his colleague Maroš Šefčovič, Vice President for the Energy Union, have overwhelmingly met corporate lobbyists, rather than public interest groups.

 
 
 
 
 
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The corporate lobby tour