France for pulling out of treaty
Treaty being used by energy companies to sue governments for regulatory changes
BRUSSELS:
France will join other European countries including Spain and the Netherlands in pulling out of the Energy Charter Treaty which protected investments in the energy sector, said President Emmanuel Macron on Friday. “We have decided to pull out of the Energy Charter Treaty,” said Macron at the end of an EU summit in Brussels. The treaty was designed to secure energy supplies and grants protection to companies investing in the energy industry. However, in recent years it has been used by fossil fuel and renewable energy companies to sue governments for regulatory changes.
Published in The Express Tribune, October 23rd, 2022.
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