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https://www.theguardian.com/environment/article/2024/may/14/fossil-fuel-investment-treaties-lobbying-climate-mary-robinson-ban-ki-moon-ect>
"Fossil fuel companies are forcing governments to compensate them for lost
earnings in the transition to a low-carbon global economy, and destroying the
world’s ability to counter their harmful activities, former top UN officials
have warned.
Mary Robinson, the former president of Ireland who was twice a UN climate
envoy, said she was “outraged” by the activities of fossil fuel companies,
including forcing governments into “investment treaties” that reward them with
billions in compensation when countries reduce their reliance on oil, gas and
coal.
“It is well worth looking at these investment treaties, there are lots of them
– 2,000 of various sorts,” Robinson said. “[Under their terms], if countries do
the right thing on climate, they have to compensate fossil fuel companies. And
they compensate to the tune of $62bn (£49bn) over a five-year period. It’s
another of these hidden subsidies. I was outraged.”
Several countries, including the UK, France, Germany and Spain, have objected
to the energy charter treaty, under which the EU and other countries were
supposed to cooperate on energy generation. But many other such treaties are
still in force, according to the OECD.
Robinson also warned that fossil fuel lobbyists had managed to severely weaken
a hoped-for treaty on the plastic waste that is catastrophically fouling the
oceans, and were increasingly hampering the UN’s annual Cop climate talks."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
