Arab Today, arab today big trade deals threaten global warming fight
Last Updated : GMT 21:17:01
Arab Today, arab today
Arab Today, arab today

Big trade deals threaten global warming fight

Arab Today, arab today

Arab Today, arab today Big trade deals threaten global warming fight

"Forty-five of the 50 private corporations historically responsible for the most climate-disrupting emissions
Washington - AFP

The legal powers that global companies would gain under huge Pacific and Atlantic trade deals could erode efforts to combat global warming, the Sierra Club said Wednesday.

The environmental group said the two pacts championed by Washington would allow foreign investors to use private tribunals to challenge public policies aimed at restricting the use of fossil fuels.

"Forty-five of the 50 private corporations historically responsible for the most climate-disrupting emissions would be empowered to challenge climate policies" if the two trade deals are implemented, the Sierra Club said in a new report.

The report took aim at investor-state dispute settlement (ISDS), one of the most contentious provisions in the already-agreed Trans-Pacific Partnership (TPP) treaty, and the Transatlantic Trade and Investment Partnership (TTIP) still in negotiation.

ISDS offers companies access to international arbitration of disputes with the countries they invest in. That can expand their protection against unfair treatment, but critics claim it would allow them to override country's justice system and national policies.

ISDS is already in place in bilateral US trade deals but would be greatly expanded under the 12-country TPP and under TTIP, which would govern trade and investment between the United States and the European Union.

The Sierra Club said ISDS opens the way for mining and energy companies to claim compensation if government policies hinder their plans for investment in fracking, offshore and onshore drilling, and pipelines.

It notes that, under the existing North American Free Trade Agreement (NAFTA), Canada's TransCanada has threatened to seek $15 billion in compensation via an ISDS tribunal after the US government last year blocked its Keystone XL oil pipeline project.

It also cited US oil fracking company Lone Pine Resources' 2013 NAFTA arbitration challenge against Canada's Quebec province for the allegedly arbitrary revocation of its "right" to drill for oil and gas under the St. Lawrence River.

With TPP and TTIP, claims like this could soar, said Ben Beachy, a senior policy advisor on trade at the Sierra Club.

"No previous trade deal has granted such broad rights to firms with such broad interests in maintaining US fossil fuel dependency."

"The corporations that would gain this ability are the world's largest polluters," he said.

Defenders of the trade deals say that the TPP explicitly gives governments the right to implement policies on the environment and health in the public interest.

"Countries retain the right to regulate in the public interest," the office of the US Trade Representative has said.

But the Sierra Club report calls the TPP provisions "far too weak to offer adequate protection" and still allows investors the right to bypass domestic courts.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today big trade deals threaten global warming fight Arab Today, arab today big trade deals threaten global warming fight

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today big trade deals threaten global warming fight Arab Today, arab today big trade deals threaten global warming fight

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday