EU charts green path forward with ECT withdrawal, new regs
By 
Ruth Prickett2024-05-03T13:34:00
The impending decision by the European Parliament to withdraw from the international Energy Charter Treaty (ECT) and adopt further climate rules sets a clear direction for green regulations in the region.
The EU Parliament’s vote to withdraw, as consented to on April 24, follows similar moves by the United Kingdom and nine EU member states. The ECT was agreed in the 1990s and enabled fossil fuel companies to sue governments for loss of earnings caused by green regulations.
Withdrawing from the treaty will clear the way for further green legislation and, potentially, more support for renewables. The departure of the EU states will approximately halve the number of countries still within the treaty. Compliance leaders should expect other regions to follow suit.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
PremiumEU businesses will soon have to report on supply chains and sustainability. Not all are ready
Supply chains are about to become the next big thing in sustainability compliance. However, many organizations still lack the data and assurance capabilities to track sustainability and human rights activities across their extended supply chains – which is required by the EU’s CS3D. Many others that fall out of scope ...
-
PremiumNew U.K. codes strive to restore falling trust, integrity
Codes of ethics and conduct are becoming ubiquitous, yet instilling high standards of corporate integrity still seems an elusive goal. Why is corporate culture such a challenge?
-
PremiumQ&A: Seaco general counsel, compliance head on environmental regulations
Dominic Buckwell, general counsel and compliance head at global marine container leasing company Seaco, discussed key themes including anti-money laundering, sanctions, and why the industry needs common environmental reporting standards.
More from Regulatory Policy
-
PremiumEU financial firms must prepare now for new rules on critical third-party arrangements
European banks and financial institutions must prepare now for stringent new rules on third-party suppliers.
-
ArticleTrump tirade against DEI turns to proxy advisors and shareholder proposals
President Donald Trump has directed the Securities and Exchange Commission (SEC) to review—and remove—any SEC rules or guidance that allow proxy advisors to influence business practices related to diversity, equity and inclusion (DEI) and environmental, social and governance (ESG) policies.
-
ArticleTrump takes aim at state AI laws, promises federal action on AI legislation
President Donald Trump has issued an executive order aimed at dismantling the artificial intelligence (AI) laws of California, Colorado and three other states with comprehensive laws.