The stated aim of many governments is to transition away from fossil fuels in line with the Paris Agreement – an aim made more urgent by the need to end dependence on Russian energy. The international Energy Charter Treaty risks frustrating these aims.
Russia’s invasion of Ukraine – which began in late February – has intensified efforts by key economies to speed up their clean energy transitions as the threat of energy insecurity stalks global markets. However, there are concerns that fossil fuel investor arbitration against renewable programmes under the Energy Charter Treaty (ECT), established in 1994, could have a chilling effect on countries’ ambitions.