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Governments' Climate Laws Could Spur $340B In ISDS Claims

As governments consider how and when to enact legislation or mitigation measures meant to address climate change, a study shows there is a pricey cause for concern as fossil fuel companies could bring legal claims worth billions of dollars against them in order to protect their assets.
IISD in the news May 6, 2022

The fossil fuel industry has a trillion-dollar secret weapon to kneecap climate action

On his first day in office, President Joe Biden revoked the permit for the controversial Keystone XL Pipeline, which would have brought exceptionally dirty oil south from Canada across the Plains. The project’s owner, Calgary-based TC Energy, saw billions in future profits go up in smoke. So it turned to an arcane but potentially explosive tool to try to recoup the loss, filing a claim under the now-defunct North American Free Trade Agreement. The company is seeking $15 billion.
IISD in the news May 5, 2022

Investor-state disputes threaten the global green energy transition

To limit global warming to below 1.5°C, governments will have to simultaneously curb demand for fossil fuels and limit supply. However, efforts to limit supply will affect asset holders, particularly in the upstream (exploration and production) and midstream (transportation and storage) portions of the supply chain.
IISD in the news May 5, 2022

RICHARD HALSEY: Turn off the gas and focus on cleaner, cheaper alternatives

The SA government’s plan to develop a gas-fired power industry brings both economic and climate change mitigation risks. Furthermore, investors in gas projects may need to absorb substantial economic losses, as the risk that fossil fuel assets will fail to make a return on investment is escalating rapidly.
IISD in the news May 4, 2022

Mining Policy Framework Assessment: Mexico

This assessment report examines Mexico's mining policy framework—specifically six important focus areas—and makes recommendations for policy reform and improvement.
Report April 29, 2022