EU urges members to support Energy Treaty Abrogation

Originally published at Europe in Review on March, 2024

The European Union is attempting to abrogate the 1998 Energy Charter Treaty that enables companies that have invested in European energy projects to sue member states if they cancel their projects after making investments. [Reuters]

The European Commission has stated that breaking the treaty is necessary to support climate change policies and halt the operation of coal power plants and oil and gas projects. Companies have argued that they were encouraged to invest when the treaty was signed and based their investment decisions on the legal assurances provided in its terms. Euronews] [EC]

Some European states have taken the side of companies that have invested in their countries and have been attempting to block EU withdrawal from the treaty. The United Kingdom withdrew from the treaty on February 28, joining Germany, France, Spain, and the Netherlands. [Guardian] [Euronews] [EC]

(rw/gc)