A tribunal authorised by the Energy Charter Treaty has ordered Italy to pay a UK fossil fuel company over £210 million, after Rockhopper sued the country over its ban on offshore oil drilling – six times more than the company’s actual investment in the drilling project.
Join thousands of people calling for the UK to exit the Energy Charter Treaty.Sign our petition
Activists protest in Salisbury where Rockhopper has its headquartersRockhopper’s project triggered local outrage, and was set to frack and acidise extracted materials using aggressive chemicals that are banned here in the UK. Over 10 years Italians fought the project, and won: the government passed legislation protecting the coastline from oil drilling.
Enter the Energy Charter Treaty (ECT) – the means by which fossil fuel companies like Rockhopper are challenging national policies for crucial climate action and the wins of people power, threatening democracy itself.
This treaty allows them to sue governments in “corporate courts” - private, closed-door tribunals outside of the national legal system.
Fossil fuel companies are making obscene profits during the cost of living crisis and now they want to cash in even more when governments actually take action to limit the destructive projects driving the climate crisis – with taxpayers bearing the cost.
This case will have a chilling effect on climate action, as climate scientists have warned in the most recent IPCC report. It also bankrolls Rockhopper to pursue ever more destructive projects: its share price has jumped up following the verdict.
The UK government and other member countries of the ECT have been discussing changes to “modernise” the treaty. But the current proposals would keep fossil fuel projects protected for ten more years. We know what we do in the next few years is critical to avert climate catastrophe.
Join thousands of people calling for the UK to exit the Energy Charter Treaty.Sign our petition
Activists protest in Salisbury where Rockhopper has its headquartersRockhopper’s project triggered local outrage, and was set to frack and acidise extracted materials using aggressive chemicals that are banned here in the UK. Over 10 years Italians fought the project, and won: the government passed legislation protecting the coastline from oil drilling.Enter the Energy Charter Treaty (ECT) – the means by which fossil fuel companies like Rockhopper are challenging national policies for crucial climate action and the wins of people power, threatening democracy itself.
This treaty allows them to sue governments in “corporate courts” - private, closed-door tribunals outside of the national legal system.
Fossil fuel companies are making obscene profits during the cost of living crisis and now they want to cash in even more when governments actually take action to limit the destructive projects driving the climate crisis – with taxpayers bearing the cost.
This case will have a chilling effect on climate action, as climate scientists have warned in the most recent IPCC report. It also bankrolls Rockhopper to pursue ever more destructive projects: its share price has jumped up following the verdict.
The UK government and other member countries of the ECT have been discussing changes to “modernise” the treaty. But the current proposals would keep fossil fuel projects protected for ten more years. We know what we do in the next few years is critical to avert climate catastrophe.
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