Big Business Sues Whole Country Over Climate Change Decisions
Even before we have a final agreement by the European Community commissioners over the appalling anti-democracy Transatlantic Trade And Investment Pasrtnership (TTIP), energy company Vattenfall is suing Germany for phasing out nuclear power and replacing it with renewables. In a secret court, the company is demanding a whopping 4.7 billion Euros in compensation.
Vattenfall is suing Germany for billions in an international arbitration court in Washington. And the game is rigged. These secret investor court hearings are taking place behind closed doors. The tribunals are biased in favour of investors, with corporate lawyers often acting as the judges and parties.
But the company claims that their decisions to do so has nothing to do with the TTIP, but that they are acting as a result of the Energy Charter Treaty claims their Vattenfall's General Counsel, Anne Gynnerstedt.
In their defence, the Swedish energy company says on its website:
"Vattenfall is not questioning the decision to phase out nuclear power in Germany. But we do insist on receiving compensation for the financial loss suffered by the company. There was simply no other way than to indict Germany.
There is a trade agreement in the energy sector – the Energy Charter Treaty – which has been signed by Germany and Sweden together with over fifty other states and the EU. The Charter contains clauses aiming to ensure that countries respect fundamental legal principles.
The dispute settlement mechanisms laid down in the Charter give companies the security to make major investments without having to take political risks. This in no way prevents democratic decisions. Germany can naturally decide to reorient its energy policy, but foreign investors should not have to pay the price for such a decision and lose money. That in itself would be in conflict with democratic principles."
"If there were no way to receive compensation, then no one could be expected to make major long-term investments over national borders, which would be counter-productive."
The Swedish energy giant also claims reciprocation as an excuse, according to their press release on their website:
A similar situation occurred in Sweden in 1997 when the Swedish government decided to decommission the nuclear power plant Barsebäck. Sweden then compensated the German owners who were affected because the decommissioning of Barsebäck came ahead of time.
With regards to the Energy Charter Treaty, their website shows that 59 lawsuits are currently ongoing between companies and national states.
Big business is proving by this action that they dont give a damn about the future of the planet, your future and that of your children and your children's children!
Source: Sum Of Us
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