Oireachtas Joint and Select Committees
Tuesday, 23 November 2021
Joint Oireachtas Committee on Climate Action
Energy Charter Treaty and Energy Security: Discussion
Dr. Yamina Saheb:
This also means that if EU countries withdraw, collectively or individually, the sunset clause that protects investments made 20 years or more before the withdrawal will not apply any more, except if the foreign investors find a way to locate their investment somewhere else, for example, in the UK or Switzerland, which are neighbouring countries close to the EU, from where they could still sue us. Basically, the ECT is a real threat to the implementation of the climate neutrality target and the Paris Agreement, not only in the EU but also outside it, because the new strategy is to extend the ECT to African countries and developing countries. They are mainly targeting African and Latin American countries. In these countries, there is no technical capacity to fight back in respect of the treaty. There is already no technical capacity in the EU to fight back in respect of this treaty. If the members have any questions, I will be happy to answer them.
No comments