UK To Quit Outdated Fossil Fuel Friendly Treaty barrons.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from barrons.com Daily Mail and Mail on Sunday newspapers.
The UK will join a string of European countries in leaving a controversial energy treaty that has allowed fossil fuel giants to sue governments over their climate policies, the government said on Thursday. To do that, it allowed energy companies many of them using coal and other fossil fuels to sue governments over policies putting their investments at risk.
European countries have failed to reach agreement on modernizing the Energy Charter Treaty. Britain joined France, Spain, and the Netherlands in withdrawing from the treaty. A strong legal framework is already in place to ensure continued investment in the UK’s energy sector. The UK government announced today (Thursday 22 February) that it will leave […]
UK Government withdraws from outdated Energy Charter Treaty to support transition to cleaner energy and deliver net zero, following a stalemate in discussions.