ISDS Case Map
ECT
Energy Charter Treaty
If you’ve never heard of ISDS (investor-state dispute settlement) that’s not surprising. ISDS operates in the shadows. It’s a mechanism for solving disputes between parties in cases of foreign direct investment while offering legal protections for the investor. The investment is typically provided by a private company to a foreign ‘host state’.
This case concerns a dispute between Cavalum SGPS, S.A and the Kingdom of Spain about changes introduced by the respondent to the regulatory and economic regime for renewable energy projects.
The US fund Blasket Renewable Investments has activated the “default” clause that declares Spain at “technical impact” after the Government has not yet paid the pending awards for the cuts in the premiums for renewables.
The World Bank has sent a devastating letter to the Spanish government to demand payment of the awards that condemn our country to compensate the investors affected by the retroactive withdrawal of the premiums granted to renewable energies.
Tribunal orders Rockhopper & Italy to mitigate the risk of non-recoupment by Italy with the anticipation of the Stay being lifted.
The decision recognised and enforced an ICSID arbitration award obtained by a renewable energy investor against the Spanish Government for €101 million.
Denmark will withdraw from the Energy Charter Treaty as it creates more uncertainties about investments than certainties, the Danish government announced.
The claims have been brought forward under the Energy Charter Treaty, an international convention which allows companies to sue signatory countries over decisions that affect their energy investments.
We can’t be held hostage by a 1990s treaty that allows fossil fuel firms to sue governments.
Bern said it will not join the European Union’s proposed mass exit from a controversial energy investment protection treaty, sparking fears that fossil fuel companies will use Switzerland as a rear base to keep suing governments over climate action.
