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:

We estimated the value of stranded fossil fuel assets that are protected by the ECT at €2.15 trillion, and we estimated the potential cost of ISDS cases that could accrue due to the phasing out of fossil fuels at €1.3 trillion by 2050. The most recent ruling of the European Court of Justice regarding the ECT states that intra-EU disputes do not violate EU law. Therefore, the intra-EU disputes no longer exist. This is a very important ruling from the European Court of Justice because more than 60% of the-----