Fowl Emissions
It finally looks like it’s curtains for the Energy Charter Treaty (ECT), which allows corporations to sue governments if policy decisions – including climate action – affect their anticipated profits. Last week EU energy commissioner Kadri Simson signalled the EU would pull out of the treaty on climate and energy grounds. However, a generous sunset clause will allow lawsuits to be filed for another 20 years, which is good news for firms such Lansdowne Oil and Gas, which last month announced it was launching what would be the first ECT case against Ireland. Lansdowne, a minority shareholder in the Barryroe oil and gas field, is seeking €100m from Irish taxpayers in compensation for minister Eamon Ryan’s decision not to allow exploration at Barryroe to proceed.
