The Energy Charter Treaty (ECT) is a multi-party investment treaty covering investment in the energy sector. Established in the 1990s, the ECT has over 50 signatories, including the UK. The ECT contains many of the traditional protections for foreign investment found in international investment agreements (IIAs), and much like international investment law generally, the treaty has been subjected to widespread criticism in recent years. The ECT has been particularly vilified for its alleged failure to deal with climate change by maintaining extensive protections for industries that supposedly contribute to this global problem.
Tag: investment
On the occasion of the UK’s ongoing re-negotiation of the placeholding UK-Canada Free Trade Continuity Agreement rolled over last year from the Comprehensive Economic and Trade Agreement (CETA) between Canada and the EU, it is useful to draw attention to Canada’s newly issued model Foreign Investment Promotion Agreement (FIPA). Upgraded from the 2014 version, the 2021 model FIPA sets out Canada’s starting asks for its trading partners in the field of investment – a key feature of modern Free Trade Agreements (FTAs) as well as a vital contributor to the economies of both countries. In 2019, the inward stock of foreign direct investment (FDI) in the UK from Canada was £20.0 billion accounting for 1.3% of the total UK inward FDI stock.
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