TTIP: The most dangerous weapon in the hands of the fossil fuel industry
Sieber, Andreas; Georgiadis, Pavloshttp://www.theecologist.org/News/news_analysis/2987946/ttip_the_most_dangerous_weapon_in_the_hands_of_the_fossil_fuel_industry.html
Date Written: 27/07/2016
Year Published: 2016
Resource Type: Article
Cx Number: CX19832
Looks into the impact that the TTIP papers will have on the fossil fuel industry and Climate Action.
The TTIP would put in place a parallel judicial system that allows companies to bypass national courts altogether. "I think this is one of the most dangerous things we have seen in the last decade: this idea of Investor State Dispute Settlements (ISDS). If a regulation only potentially cuts into the profits of a company, these companies can turn to arbitration", warns Jesse Bragg from Corporate Accountability International.
But the resistance of the global climate movement against the TTIP is rising. In June, a major coalition of more than 450 NGOs called on the US Congress to oppose TTIP because of its climate impacts. A letter signed by organisations including Greenpeace, 350.org and the Sierra Club reflects one of the broadest civil society coalitions to ever call on the US Congress officially.