EU agrees to quit Energy Charter Treaty over climate concerns
https://www.reuters.com/business/energy/eu-agrees-quit-energy-investment-treaty-over-climate-concerns-2024-05-30/
by fungussa
EU agrees to quit Energy Charter Treaty over climate concerns
https://www.reuters.com/business/energy/eu-agrees-quit-energy-investment-treaty-over-climate-concerns-2024-05-30/
by fungussa
2 comments
>The 1998 Energy Charter Treaty (ECT) allows energy companies to sue governments over policies that damage their investments. In recent years, some companies have used it to launch billion-dollar lawsuits against measures to shut or restrict fossil fuel projects.
Excellent! This immediately downgrades the value of fossil assets that companies can borrow against. The decoupling of fossil fuels from the financial industry isn’t flashy but it is important.
[10Y ROI Fossil v S&P500](https://ieefa.org/sites/default/files/inline-images/S%26P%20Standalone%20Graphic%20for%20Factsheet-2_0.png)