You may be interested to read the news about IIED’s new report, ‘Raising the cost of climate action? Investor-state dispute settlement and compensation for stranded fossil fuel assets’, at International treaties threaten affordability of climate action: new report.
A complex set of international legal measures protecting the fossil fuel industry risks significantly increasing the cost of moving to green energy and tackling climate change. The ‘Raising the cost of climate action? Investor-state dispute settlement and compensation for stranded fossil fuel assets’ study is the first to quantify the proportion and value of the fossil fuel industry and associated infrastructure that is protected by international treaties that include provisions for investor-state dispute settlement (ISDS).
‘Raising the cost of climate action?’ includes a focus on coal-fired power stations. ISDS protects most of the world’s 257 foreign-owned coal plants, which must be retired early in order to put the planet on track to keep temperature rise below 1.5°C above pre-industrial levels. ISDS could require governments – effectively the country’s taxpayers – to pay large compensation sums to fossil fuel companies.
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