The Council of Canadians, Friends of the Earth Europe, Food & Water Watch, the Transnational Institute and nine other groups based in the European Union and the United States have released a 8-page briefing paper titled Oil Corporations Vs. Climate: How investors use trade agreements to undermine climate action.
The paper highlights how Calgary-based TransCanada is using the Chapter 11 investor-state dispute settlement (ISDS) provision in the North American Free Trade Agreement (NAFTA) to sue the U.S. government for $15 billion in “compensation”, including for lost future profits, relating to the rejection of the Keystone XL tar sands pipeline.
