Singapore firm using secretive international legal system to seek compensation for climate concerns blocking plansThe UK government is being sued in a secretive “corporate court” after a pro...
Singapore firm using secretive international legal system to seek compensation for climate concerns blocking plans
The UK government is being sued in a secretive “corporate court” after a proposal for a new coalmine in Cumbria was quashed by the high court. If successful, UK taxpayers would have to fund a substantial compensation payment to the mine’s investors.
It is the first such case to be filed against the UK government by a fossil fuel company as a result of climate policy. The case uses investor-state dispute settlement (ISDS) rules agreed in a 1975 trade agreement between the UK and Singapore, where the major investor in the coalmine is incorporated.
Continue reading...Source: Guardian - World News
