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12 July 2024 / James Rogers , Jonathan P Cowe
Issue: 8079 / Categories: Features , International , Environment
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Leaving the ECT: bad for investors, wrong for the climate?

James Rogers & Jonathan P Cowe warn of the unintended consequences of leaving the Energy Charter Treaty
  • Explores the ramifications of the UK and EU’s decision to withdraw from the Energy Charter Treaty.
  • Argues withdrawal removes important legal protections for investments in the energy sector, deterring investment in renewables.

The Energy Charter Treaty (ECT) is an international multilateral agreement established in the 1990s to protect foreign investments in the energy sector. The treaty’s primary purpose is to ensure a stable and transparent investment environment by requiring member states to uphold principles of fair and equitable treatment of investments. It also prohibits the expropriation of investments without prompt compensation and includes a mechanism for investors to seek legal redress for breaches of these obligations via international arbitration. These protections cover all energy-related investments, from fossil fuels to renewable energy projects.

The treaty was a product of the 1990s wave of globalisation and efforts to facilitate East-West trade in energy, particularly oil and gas. Signatories to the ECT included

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MOVERS & SHAKERS

Slater Heelis—Charlotte Beck

Slater Heelis—Charlotte Beck

Partner and Manchester office lead appointed head of family

Civil Justice Council—Nigel Teasdale

Civil Justice Council—Nigel Teasdale

DWF insurance services director appointed to Civil Justice Council

R3—Jodie Wildridge

R3—Jodie Wildridge

Kings Chambers barrister appointed chair of R3 Yorkshire

NEWS

The abolition of assured shorthold tenancies and section 21 evictions marks the beginning of a ‘brave new world’ for England’s rental sector, writes Daniel Bacon of Seddons GSC

Stephen Gold’s latest Civil Way column rounds up a flurry of procedural and regulatory changes reshaping housing, alternative dispute resolution (ADR) and personal injury litigation
Patients are being systematically failed by an NHS complaints regime that is opaque, poorly enforced and often stacked against them, argues Charles Davey of The Barrister Group
A wealthy Russian divorce battle has produced a sharp warning about trying to challenge foreign nuptial agreements in the wrong English court. Writing in NLJ this week, Vanessa Friend and Robert Jackson of Hodge Jones & Allen examine Timokhin v Timokhina, where the High Court enforced Russian judgments arising from a prenuptial agreement despite arguments based on the landmark Radmacher decision
An obscure Victorian tort may be heading for an unexpected revival after a significant Privy Council ruling that could reshape liability for dangerous escapes, according to Richard Buckley, barrister and emeritus professor of law at the University of Reading
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