Tag Archives: investor

TTIP: What bit of the word ‘no’ doesn’t the Commission understand? Updated for 2026





Even a tyrant might baulk at effecting a policy which 97% of people oppose. But the European Commission is moving forward with the US-EU trade deal (known as TTIP), despite getting just that result from its largest consultation in history. Nonetheless, corporate plans for this huge trade deal have been badly damaged.

Last year, in response public criticism, the Commission issued a consultation on so-called ‘investor protection’. That’s the bit of trade deals which gives corporations the right to sue governments for implementing policies that damage their profits. So for Investor protection read corporate privilege.

Not surprisingly it’s hugely unpopular. Over 97% all of the 150,000 respondents to the Commission’s consultation – that’s more than 100 times that of any previous trade consultation – rejected investor protection outright.

Where’s the ‘I don’t want this’ box?

Unfortunately, the Commission insists that they were answering a question that hadn’t been asked. At no point in the whole dense, legalistic consultation document were participants given an option to say ‘we don’t want this’.

Rather they were asked questions almost impossible to understand by anyone who isn’t a trade lawyer. When campaign groups created an easy-to-follow online response action, they were accused of “hijacking” the process.

On Tuesday, the Commission released its findings in full. They show that an enormous number of EU citizens responded to the consultation, more than any consultation in history, as well as nearly 450 businesses, campaign organisations, think tanks and trade unions.

The analysis shows that this really is a battle between big business and the rest of us. The exclusion of public services is “strongly opposed by a significant number of business associations who want to see exceptions and limitations brought down to a minimum.”

Unsurprisingly, corporate giants like Chevron, Suez and Repsol, which have sued countries under similar investor protection, are fully supportive of those systems. Indeed some reject any weakening of a system which has allowed tobacco giant Philip Morris to sue Uruguay for putting health warnings on cigarette packets.

But even across the business world, there is no consensus. “[S]mall companies are more critical” – not surprising given small business is unlikely to have access to this world of corporate privilege.

UK: Cameron is all for it, we are all against it

The country generating most response to the EU (52,000 participants) is Britain. This is good, because the British government is pushing investor protection more than any other. Last year they intervened to make sure the Commission kept its nerve.

Trade Commissioner Cecilia Malmström admitted on Tuesday that the “consultation clearly shows that there is a huge scepticism against the ISDS [investor protection] instrument”, but she will continue to try to work out a compromise nonetheless. This is deeply worrying because the last compromise made in the Canada-EU treaty (CETA) actually risks giving corporations more power.

The deal has been welcomed by veteran investment arbitrator Todd Weiler: “I love it, the new Canadian-EU treaty … we used to have to argue about all of those [foreign investor rights] … And now we have this great list. I just love it when they try to explain things.”

The Commission now embarks on further ‘consultation’. But they have been dealt a serious blow by campaigners from across Europe, who now need to get even more active.

Will the European Parliament step up to the mark?

The European Parliament will adopt a position on TTIP in May. Early signs are that this will be a real showdown and vitally important to whether or not TTIP passes into law.

German Social Democrat Bernd Lange from the trade committee, one of the most important parliamentarians on TTIP, wrote last month that everything important “can be attained in TTIP without the inclusion of ISDS provisions”.

The Environment Committee has been even more critical, worrying “that the TTIP and other mega trade deals are likely to reshape global trade rules and set new standards, while also being discriminatory … risking sidelining important issues for developing countries such as food security, agricultural subsidies and climate change mitigation”

2015 is the make or break year for TTIP, and the coming months are vitally important. To have any hope of stopping this corporate juggernaut, we need to win critical votes in the EU Parliament on TTIP and CETA.

 


 

Nick Dearden is director of Global Justice Now.

Creative Commons License

This article was originally published by openDemocracy under a Creative Commons Attribution-NonCommercial 3.0 licence.

 




389224

TTIP: What bit of the word ‘no’ doesn’t the Commission understand? Updated for 2026





Even a tyrant might baulk at effecting a policy which 97% of people oppose. But the European Commission is moving forward with the US-EU trade deal (known as TTIP), despite getting just that result from its largest consultation in history. Nonetheless, corporate plans for this huge trade deal have been badly damaged.

Last year, in response public criticism, the Commission issued a consultation on so-called ‘investor protection’. That’s the bit of trade deals which gives corporations the right to sue governments for implementing policies that damage their profits. So for Investor protection read corporate privilege.

Not surprisingly it’s hugely unpopular. Over 97% all of the 150,000 respondents to the Commission’s consultation – that’s more than 100 times that of any previous trade consultation – rejected investor protection outright.

Where’s the ‘I don’t want this’ box?

Unfortunately, the Commission insists that they were answering a question that hadn’t been asked. At no point in the whole dense, legalistic consultation document were participants given an option to say ‘we don’t want this’.

Rather they were asked questions almost impossible to understand by anyone who isn’t a trade lawyer. When campaign groups created an easy-to-follow online response action, they were accused of “hijacking” the process.

On Tuesday, the Commission released its findings in full. They show that an enormous number of EU citizens responded to the consultation, more than any consultation in history, as well as nearly 450 businesses, campaign organisations, think tanks and trade unions.

The analysis shows that this really is a battle between big business and the rest of us. The exclusion of public services is “strongly opposed by a significant number of business associations who want to see exceptions and limitations brought down to a minimum.”

Unsurprisingly, corporate giants like Chevron, Suez and Repsol, which have sued countries under similar investor protection, are fully supportive of those systems. Indeed some reject any weakening of a system which has allowed tobacco giant Philip Morris to sue Uruguay for putting health warnings on cigarette packets.

But even across the business world, there is no consensus. “[S]mall companies are more critical” – not surprising given small business is unlikely to have access to this world of corporate privilege.

UK: Cameron is all for it, we are all against it

The country generating most response to the EU (52,000 participants) is Britain. This is good, because the British government is pushing investor protection more than any other. Last year they intervened to make sure the Commission kept its nerve.

Trade Commissioner Cecilia Malmström admitted on Tuesday that the “consultation clearly shows that there is a huge scepticism against the ISDS [investor protection] instrument”, but she will continue to try to work out a compromise nonetheless. This is deeply worrying because the last compromise made in the Canada-EU treaty (CETA) actually risks giving corporations more power.

The deal has been welcomed by veteran investment arbitrator Todd Weiler: “I love it, the new Canadian-EU treaty … we used to have to argue about all of those [foreign investor rights] … And now we have this great list. I just love it when they try to explain things.”

The Commission now embarks on further ‘consultation’. But they have been dealt a serious blow by campaigners from across Europe, who now need to get even more active.

Will the European Parliament step up to the mark?

The European Parliament will adopt a position on TTIP in May. Early signs are that this will be a real showdown and vitally important to whether or not TTIP passes into law.

German Social Democrat Bernd Lange from the trade committee, one of the most important parliamentarians on TTIP, wrote last month that everything important “can be attained in TTIP without the inclusion of ISDS provisions”.

The Environment Committee has been even more critical, worrying “that the TTIP and other mega trade deals are likely to reshape global trade rules and set new standards, while also being discriminatory … risking sidelining important issues for developing countries such as food security, agricultural subsidies and climate change mitigation”

2015 is the make or break year for TTIP, and the coming months are vitally important. To have any hope of stopping this corporate juggernaut, we need to win critical votes in the EU Parliament on TTIP and CETA.

 


 

Nick Dearden is director of Global Justice Now.

Creative Commons License

This article was originally published by openDemocracy under a Creative Commons Attribution-NonCommercial 3.0 licence.

 




389224

TTIP: What bit of the word ‘no’ doesn’t the Commission understand? Updated for 2026





Even a tyrant might baulk at effecting a policy which 97% of people oppose. But the European Commission is moving forward with the US-EU trade deal (known as TTIP), despite getting just that result from its largest consultation in history. Nonetheless, corporate plans for this huge trade deal have been badly damaged.

Last year, in response public criticism, the Commission issued a consultation on so-called ‘investor protection’. That’s the bit of trade deals which gives corporations the right to sue governments for implementing policies that damage their profits. So for Investor protection read corporate privilege.

Not surprisingly it’s hugely unpopular. Over 97% all of the 150,000 respondents to the Commission’s consultation – that’s more than 100 times that of any previous trade consultation – rejected investor protection outright.

Where’s the ‘I don’t want this’ box?

Unfortunately, the Commission insists that they were answering a question that hadn’t been asked. At no point in the whole dense, legalistic consultation document were participants given an option to say ‘we don’t want this’.

Rather they were asked questions almost impossible to understand by anyone who isn’t a trade lawyer. When campaign groups created an easy-to-follow online response action, they were accused of “hijacking” the process.

On Tuesday, the Commission released its findings in full. They show that an enormous number of EU citizens responded to the consultation, more than any consultation in history, as well as nearly 450 businesses, campaign organisations, think tanks and trade unions.

The analysis shows that this really is a battle between big business and the rest of us. The exclusion of public services is “strongly opposed by a significant number of business associations who want to see exceptions and limitations brought down to a minimum.”

Unsurprisingly, corporate giants like Chevron, Suez and Repsol, which have sued countries under similar investor protection, are fully supportive of those systems. Indeed some reject any weakening of a system which has allowed tobacco giant Philip Morris to sue Uruguay for putting health warnings on cigarette packets.

But even across the business world, there is no consensus. “[S]mall companies are more critical” – not surprising given small business is unlikely to have access to this world of corporate privilege.

UK: Cameron is all for it, we are all against it

The country generating most response to the EU (52,000 participants) is Britain. This is good, because the British government is pushing investor protection more than any other. Last year they intervened to make sure the Commission kept its nerve.

Trade Commissioner Cecilia Malmström admitted on Tuesday that the “consultation clearly shows that there is a huge scepticism against the ISDS [investor protection] instrument”, but she will continue to try to work out a compromise nonetheless. This is deeply worrying because the last compromise made in the Canada-EU treaty (CETA) actually risks giving corporations more power.

The deal has been welcomed by veteran investment arbitrator Todd Weiler: “I love it, the new Canadian-EU treaty … we used to have to argue about all of those [foreign investor rights] … And now we have this great list. I just love it when they try to explain things.”

The Commission now embarks on further ‘consultation’. But they have been dealt a serious blow by campaigners from across Europe, who now need to get even more active.

Will the European Parliament step up to the mark?

The European Parliament will adopt a position on TTIP in May. Early signs are that this will be a real showdown and vitally important to whether or not TTIP passes into law.

German Social Democrat Bernd Lange from the trade committee, one of the most important parliamentarians on TTIP, wrote last month that everything important “can be attained in TTIP without the inclusion of ISDS provisions”.

The Environment Committee has been even more critical, worrying “that the TTIP and other mega trade deals are likely to reshape global trade rules and set new standards, while also being discriminatory … risking sidelining important issues for developing countries such as food security, agricultural subsidies and climate change mitigation”

2015 is the make or break year for TTIP, and the coming months are vitally important. To have any hope of stopping this corporate juggernaut, we need to win critical votes in the EU Parliament on TTIP and CETA.

 


 

Nick Dearden is director of Global Justice Now.

Creative Commons License

This article was originally published by openDemocracy under a Creative Commons Attribution-NonCommercial 3.0 licence.

 




389224

TTIP: What bit of the word ‘no’ doesn’t the Commission understand? Updated for 2026





Even a tyrant might baulk at effecting a policy which 97% of people oppose. But the European Commission is moving forward with the US-EU trade deal (known as TTIP), despite getting just that result from its largest consultation in history. Nonetheless, corporate plans for this huge trade deal have been badly damaged.

Last year, in response public criticism, the Commission issued a consultation on so-called ‘investor protection’. That’s the bit of trade deals which gives corporations the right to sue governments for implementing policies that damage their profits. So for Investor protection read corporate privilege.

Not surprisingly it’s hugely unpopular. Over 97% all of the 150,000 respondents to the Commission’s consultation – that’s more than 100 times that of any previous trade consultation – rejected investor protection outright.

Where’s the ‘I don’t want this’ box?

Unfortunately, the Commission insists that they were answering a question that hadn’t been asked. At no point in the whole dense, legalistic consultation document were participants given an option to say ‘we don’t want this’.

Rather they were asked questions almost impossible to understand by anyone who isn’t a trade lawyer. When campaign groups created an easy-to-follow online response action, they were accused of “hijacking” the process.

On Tuesday, the Commission released its findings in full. They show that an enormous number of EU citizens responded to the consultation, more than any consultation in history, as well as nearly 450 businesses, campaign organisations, think tanks and trade unions.

The analysis shows that this really is a battle between big business and the rest of us. The exclusion of public services is “strongly opposed by a significant number of business associations who want to see exceptions and limitations brought down to a minimum.”

Unsurprisingly, corporate giants like Chevron, Suez and Repsol, which have sued countries under similar investor protection, are fully supportive of those systems. Indeed some reject any weakening of a system which has allowed tobacco giant Philip Morris to sue Uruguay for putting health warnings on cigarette packets.

But even across the business world, there is no consensus. “[S]mall companies are more critical” – not surprising given small business is unlikely to have access to this world of corporate privilege.

UK: Cameron is all for it, we are all against it

The country generating most response to the EU (52,000 participants) is Britain. This is good, because the British government is pushing investor protection more than any other. Last year they intervened to make sure the Commission kept its nerve.

Trade Commissioner Cecilia Malmström admitted on Tuesday that the “consultation clearly shows that there is a huge scepticism against the ISDS [investor protection] instrument”, but she will continue to try to work out a compromise nonetheless. This is deeply worrying because the last compromise made in the Canada-EU treaty (CETA) actually risks giving corporations more power.

The deal has been welcomed by veteran investment arbitrator Todd Weiler: “I love it, the new Canadian-EU treaty … we used to have to argue about all of those [foreign investor rights] … And now we have this great list. I just love it when they try to explain things.”

The Commission now embarks on further ‘consultation’. But they have been dealt a serious blow by campaigners from across Europe, who now need to get even more active.

Will the European Parliament step up to the mark?

The European Parliament will adopt a position on TTIP in May. Early signs are that this will be a real showdown and vitally important to whether or not TTIP passes into law.

German Social Democrat Bernd Lange from the trade committee, one of the most important parliamentarians on TTIP, wrote last month that everything important “can be attained in TTIP without the inclusion of ISDS provisions”.

The Environment Committee has been even more critical, worrying “that the TTIP and other mega trade deals are likely to reshape global trade rules and set new standards, while also being discriminatory … risking sidelining important issues for developing countries such as food security, agricultural subsidies and climate change mitigation”

2015 is the make or break year for TTIP, and the coming months are vitally important. To have any hope of stopping this corporate juggernaut, we need to win critical votes in the EU Parliament on TTIP and CETA.

 


 

Nick Dearden is director of Global Justice Now.

Creative Commons License

This article was originally published by openDemocracy under a Creative Commons Attribution-NonCommercial 3.0 licence.

 




389224

Investor heavyweights call for climate action Updated for 2026





Many of the biggest hitters in the global financial community, together managing an eye-watering $24 trillion of investment funds, have issued a powerful warning to political leaders about the risks of failing to establish clear policy on reducing greenhouse gas emissions.

More than 340 investment concerns – ranging from Scandinavian pensions funds to institutional investors in Asia, Australia, South Africa and the US – have put their signatures to what they describe as global investors’ most comprehensive statement yet on climate change.

In particular, the investors call on government leaders to provide a “stable, reliable and economically meaningful carbon policy”, and to develop plans to phase out subsidies on fossil fuels.

Time to get more ambitious!

They warn: “Gaps, weaknesses and delays in climate change and clean energy policies will increase the risks to our investments as a result of the physical impacts of climate change, and will increase the likelihood that more radical policy measures will be required to reduce greenhouse gas emissions.

“Stronger political leadership and more ambitious policies are needed in order for us to scale up our investments.”

So far, attempts to establish carbon pricing systems capable of making an impact on climate change have ended in failure, notably in the EU’s Emissions Trading System, which has suffered from the over-allocation of emissions permits and low carbon prices.

Likewise fossil fuel companies in the oil, gas and coal sectors have successfully fought off moves to reduce or abolish widespread subsidies and tax breaks for fossil fuels.

The US alone is spending $4 billion per year subsidising fossil fuel production. Total subsidies worldwide may be as high as $600 billion.

This is the signal the world needs

The investors’ move has been welcomed by the United Nations. Achim Steiner, head of the UN Environment Programme, said:

“Investors are owners of large segments of the global economy, as well as custodians of citizens’ savings around the world. Having such a critical mass of them demand a transition to the low-carbon and green economy is exactly the signal governments need in order to move to ambitious action quickly.

“What is needed is an unprecedented re-channelling of investment from today´s economy into the low-carbon economy of tomorrow.”

The investors’ statement comes amid growing concern in the finance sector about the economic consequences of a warming world.

Last week, a commission composed of leading economists and senior political figures said the transition to a low-carbon economy was vital in order to ensure continued global economic growth.

The danger of ‘stranded assets’

Other groups say investors who continue to put their money into fossil fuels are taking considerable risks. As governments and regulators face up to the enormity of climate change and place more restrictions on fossil fuels, such investments could become what are termed ‘stranded assets‘.

There are also signs of a surge in low-carbon technologies, particularly in the renewable energy sector. Last week, Lazard, the asset management firm, reported that a decline in cost and increased efficiency means large wind and solar installations in the US can now, without subsidies, be cost competitive with gas-fired power.

There is also increased activity on the carbon pricing front. China, the world’s biggest emitter of greenhouse gases, recently announced it would establish a countrywide emissions trading system by 2016.

If implemented, the China carbon trading system will be the world’s biggest. The country already runs seven regional carbon trading schemes. – 

 


 

Kieran Cooke writes for Climate News Network.

 

 




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