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Multi-billion energy company euro lawsuits derail climate action | Climate Change | DW


Multi-billion euro lawsuits derail climate action
An archaic energy treaty is being weaponized by big emitters to sue EU governments who are phasing out fossil fuels. Hundreds of billions of taxpayer funds could be redirected from climate action to corporate coffers.
RWE will have to shutter its brown coal power stations but wants billions of euros in return
In February, German energy company RWE invoked an obscure agreement called the Energy Charter Treaty (ECT) to sue the Netherlands for 1.4 billion euros ($1.67 billion) as compensation for phasing out coal by 2030.
The case is the tip of a litigation iceberg, with another German energy company, Uniper, on Friday confirming it is taking the Netherlands to court over its coal exit, and in parallel is suing for a reported 1 billion euros under the ECT. Such claims are magnified due to an obscure future earnings clause.  ....

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