Episode description
Episode description
Two decades ago, and without significant public debate, an obscure international investment agreement entered into force. The Energy Charter Treaty (ECT) gives foreign investors in the energy sector sweeping powers to sue states for millions of dollars over government actions that have supposedly ‘damaged’ their investments.In recent years, the ECT has become increasingly controversial – because of its potential to obstruct the transition from climate-wrecking fossil fuels towards renewable energy. It also has the capacity to lock-in failed energy privatisations, and undermines the provision of energy at affordable prices. But despite the growing controversy, countries in the global south, particularly in Africa, are in the process of joining this outdated and damaging treaty.
Guests:
- Faith Lumonya, Programme Officer, Trade and Investment Programme, SEATINI Uganda
- Pia Eberhardt, researcher with Corporate Europe Observatory
- Cecilia Olivet, Coordinator, Trade and Investment programme, TNI.
You can find out more on www.energy-charter-dirty-secrets.org/
Image source: Gretar Ívarsson: Wikimedia "The Nesjavellir Geothermal Power Plant in Þingvellir, Iceland"