EU investment proposal won’t prevent corporate attacks on health and environment - TruePublica
EU investment proposal won’t prevent corporate attacks on health and environment
Institute –
Corporate Europe Observatory – Forum Umwelt und Entwicklung –
Canadian Center for Policy Alternatives.
Dangerous attacks against regulations protecting the public interest
and the environment would not be prevented by the European Commission’s
new investment protection proposals for future trade agreements,
according to a new report.
The report
– developed by Friends of the Earth Europe, Transnational Institute,
Corporate Europe Observatory, the Forum Umwelt und Entwicklung, and the
Canadian Center for Policy Alternatives [1] – puts to the test the
European Commission’s promise that the Investment Court System, its new
framework for investment protection, will protect governments’ right to
regulate [2].
Five iconic and controversial investor-state dispute settlements,
where environmental and public health protections have been attacked,
are reviewed through the lens of the Investment Court System, promoted
during negotiations on a Transatlantic Trade and Investment Partnership
(TTIP), the EU-Canada Comprehensive Trade and Economic Agreement (CETA),
and the EU-Vietnam agreement. The report finds that all five disputes
could still happen under the proposal, which falls short of safeguarding
governments’ right to regulate.
Natacha Cingotti, trade campaigner at Friends of the Earth Europe, said: “The
“Investment Court System” is nothing but smoke and mirrors. It further
enshrines VIP rights for corporations and will expand the clout of
private arbitration and its profiteers. Far from limiting attacks
against public interest regulations, it will pave the way for many
more”.
