ISDS Risks to Climate Action
- Submitted by: Mercedes Villalba, North East Scotland, Scottish Labour.
- Date lodged: Wednesday, 29 June 2022
- Motion reference: S6M-05118
That the Parliament recognises what it sees as the warning in the recent Working Group III contribution to the Intergovernmental Panel on Climate Change's Sixth Assessment Report that “international investment agreements may lead to ‘regulatory chill’” and of the risk of “ISDS [investor-state dispute settlement] being able to be used by fossil-fuel companies to block national legislation aimed at phasing out the use of their assets”, highlighting the Energy Charter Treaty; notes reports that fossil fuel companies are already bringing such ISDS cases using the Energy Charter Treaty; further notes recent research showing that the UK faces a risk of up to £11 billion from potential ISDS claims over oil and gas alone and that the biggest source of risk is the Energy Charter Treaty; considers that this poses a threat for the progressive climate policies that the Scottish Parliament may wish to enact in future for the benefit of people living in Scotland, and believes that exiting the Energy Charter Treaty is necessary for Scotland to meet its climate goals.
Karen Adam, Jackie Baillie, Foysol Choudhury, Katy Clark, James Dornan, Joe FitzPatrick, Kenneth Gibson, Christine Grahame, Fiona Hyslop, Daniel Johnson, Monica Lennon, Fulton MacGregor, Paul McLennan, Jenni Minto, Carol Mochan, Alex Rowley, Kaukab Stewart, Paul Sweeney, Evelyn Tweed, Martin Whitfield