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EU Agrees to Exit International Energy Treaty

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The European Union has agreed to end an international energy treaty that allows energy companies to sue the government over policies that impact their investments, the EU said, cited by XM.

  • The move was due to concerns that it protects fossil fuel investments – weakening climate change targets.
  • Some companies have used it to pursue billion-dollar lawsuits against measures aimed at shutting down or restricting fossil fuel projects in recent years.
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The European Union has agreed to end an international energy treaty that allows energy companies to sue the government over policies that impact their investments, the EU said, cited by XM.

  • The move was due to concerns that it protects fossil fuel investments – weakening climate change targets.
  • Some companies have used it to pursue billion-dollar lawsuits against measures aimed at shutting down or restricting fossil fuel projects in recent years.