France It has decided to withdraw from the Energy Charter Treaty (ECT). It gives private energy investors the power to file lawsuits against States, as announced by French president Emmanuel Macron this Friday after other partners like Spain.
“France has decided to withdraw from the Energy Charter Treaty. It is an important point requested by many.At the press conference held in Brussels at the end of the summit of EU heads of state and government, Macron said that he focused on the urgency of taking measures to intervene in the energy market to set a ceiling on gas purchase prices.
About fifty countries signed this Agreement, which was designed in 1998 and allows energy companies.especially those related to fossil fuels, suing countries before a court system if they feel that the legislation is contrary to their interests.
The French UN Intergovernmental Panel on Climate Change (IPCC) described this agreement as a “serious obstacle to mitigating climate change” as it is “incompatible” with “decarbonisation calendars”.
In recent weeks, other countries of the European Union have announced that they are breaking from this agreement. consider it contrary to its commitments to combat climate change assumed by him Like the Paris Agreement, the Netherlands. Spain also started the deal withdrawal procedure this month.