The findings of the public consultation on investor-state dispute settlement (ISDS) in the EU-US free trade negotiations, published today, leaves no room for any other conclusion than that ISDS should be excluded from any such trade agreement, two members of the European Commission’s own advisory group have said. The European Environmental Bureau (EEB) and Transport & Environment (T&E) called on the EU to heed the views of the almost 150,000 European citizens who participated, a record in the history of European public consultation.
Two proposed trade deals – the Canada-European Union Comprehensive Trade and Economic Agreement (CETA), and the United States-European Union Transatlantic Trade and Investment Partnership (TTIP) – have attracted widespread international criticism by threatening to give unrivaled, unfettered "investment" rights to multinational corporations, including the world's worst polluters. While the text of CETA has been finalized and made public and TTIP is in an earlier phase of secretive negotiations, both still require formal ratification. It's not too late – the EU, U.S. and Canada should eliminate corporate-empowering rules from trade agreements rather than falsely claim that the rules have been "reformed" for the better.
A wave of corporate lawsuits against the EU, its member states and Canada could result from the investor-state dispute settlement (ISDS) provisions in the European Union-Canada trade, a new analysis has revealed.
An EU-wide coalition of civil society organisations representing a broad spectrum of public interests have joined their voices to face the democratic threat posed by the current Transatlantic Trade and Investment Partnership (TTIP) negotiations. To promote social justice, environmental sustainability and human rights it is imperative that investor-state dispute settlement (ISDS), a regulatory co-operation council and the deregulation of standards are clearly excluded in a transparent fashion from TTIP.
Supported by more than 20 million EU citizens across 28 member states, the Green 10 alliance of leading environmental NGOs at the EU level calls for a comprehensive, evidence-based approach to negotiations on the Transatlantic Trade and Investment Partnership between the EU and the US. The approach must seriously consider the environmental and democratic challenges posed by this agreement. The Green 10 are also against the inclusion of investor-state dispute settlement (ISDS) and provisions for a regulatory co-operation council, both of which threaten recent and future environmental and social achievements in Europe.
Transparency within all realms of policy development are not only treaty-embedded obligations for the European Commission but a practical and necessary condition to secure respectful and beneficial outcomes for European society as a whole. In response to the European Ombudsman’s investigation into transparency within trade negotiations, T&E suggests concrete measures and raises examples of best practice that would enable meaningful and constructive input from civil society across Europe and the Atlantic.
European trade ministers set to discuss EU trade priorities on Friday have been warned that the Comprehensive Economic and Trade Agreement (CETA) with Canada would unleash a wave of corporate lawsuits against Canada, the EU and its member states, particularly in the mining and financial sectors.
This first in-depth analysis of investor rights in the Comprehensive Economic and Trade Agreement (CETA) with Canada by T&E and 14 other environmental NGOs, citizens’ groups and workers unions from both sides of the Atlantic finds that CETA grants even greater rights to foreign investors than the North American Free Trade Agreement (NAFTA) – increasing the risk that corporations will use CETA to constrain future government policy. It would unleash a wave of corporate lawsuits against Canada, the EU and its member states, particularly in the mining and financial sectors.
100,000 submissions to a public consultation is a lot on any subject, and particularly when the subject is the finer points of a proposed international trade deal. But having been extended for a week, the signs are that the European Commission’s public consultation on investor-state dispute settlement (ISDS) has attracted a number of responses that could be in this region. It closed on Sunday, July 13th.
The European Commission has come under renewed pressure to drop investor-state dispute settlements (ISDS) from a trade deal with the US after receiving a record 150,000 responses in a public consultation on the controversial clause.