Extract from “TPP could trump climate accord”

In more than 6000 pages of legal text in the TPP, climate change is not mentioned once. On the other hand, entire chapters are devoted to minimizing “technical barriers to trade” and ensuring “regulatory coherence”. These chapters consist of a range of rules that would turn the move to zero carbon into a legal minefield.

In addition, investors such as fossil fuel companies would be given broad powers to directly sue governments in off-shore tribunals for unfavorable changes in policy under investor-state dispute settlement provisions.

Awarding these powers to the fossil fuel industry is a direct affront to the Paris agreement. Given that trillions of dollars’ worth of fossil fuel reserves must remain in the ground – investor-state dispute settlement clauses are a disaster waiting to happen.

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