Big energy sues Netherlands for €1.4 billion over coal phase out | DW News

DW News published this video item, entitled “Big energy sues Netherlands for €1.4 billion over coal phase out | DW News” – below is their description.

The world needs to stop burning fossil fuels to limit the devastating effects of climate change.

The Netherlands has legislated to shut down all coal-fired power plants by 2030.

But now a German energy company is suing the Dutch government for 1.4 billion euros over that decision.

The company RWE is using a secretive international agreement to claim compensation from the Netherlands.

This case is possible because of the Energy Charter Treaty. This international agreement allows energy investors to sue governments for their lost assets and potential profits, resulting from regulatory changes.

The cases take place in closed-door hearings at a private tribunal in Washington DC. So far ECT cases have resulted in payments of more than $50 billion dollars to investors. And that’s just the judgements we know about – most remain secret.

When the ECT was created in 1991, it was promoted as a way of giving companies security when investing in countries without reliable legal systems. But it’s increasingly used within the European Union – something many EU governments deem to be unlawful.

Climat activists say this treaty is now a major blockage to addressing climate change.

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In This Story: Climate Change

Climate Change is the name commonly given to the notion that the Earth is undergoing a changing climate as a result of human activity, including notable leaders, scientists and naturalists including Sir David Attenborough.

Climate change includes both the global warming driven by human emissions of greenhouse gases, and the resulting large-scale shifts in weather patterns.

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In This Story: Netherlands

The Netherlands, informally Holland, is a country primarily located in Western Europe and partly in the Caribbean, forming the largest constituent country of the Kingdom of the Netherlands. In Europe, it consists of 12 provinces that border Germany to the east, Belgium to the south, and the North Sea to the northwest, with maritime borders in the North Sea with those countries and the United Kingdom. In the Caribbean, it consists of three special municipalities: the islands of Bonaire, Sint Eustatius and Saba. The country’s official language is Dutch, with West Frisian as a secondary official language in the province of Friesland, and English and Papiamentu as secondary official languages in the Caribbean Netherlands. Dutch Low Saxon and Limburgish are recognised regional languages (spoken in the east and southeast respectively), while Sinte Romani and Yiddish are recognised non-territorial languages.

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