The TTIP Trade Deal: The Most Dangerous Weapon in the Hands of the Fossil Fuel Industry

The TTIP would by far dwarf all trade agreements the world has seen so far, directly affecting the lives of 800 million people in the EU and the US. Of the 51,495 US-owned subsidiaries currently operating in the EU, more than 47,000 would be newly empowered to launch ISDS attacks on European policy making and government actions.

But the resistance of the global climate movement against the TTIP is rising. In June, a major coalition of more than 450 NGOs called on the US Congress to oppose TTIP because of its climate impacts. A letter signed by organisations including Greenpeace, 350.org and the Sierra Club reflects one of the broadest civil society coalitions to ever call on the US Congress officially. They state that “the Transatlantic Trade and Investment Partnership (TTIP), as proposed, would empower an unprecedented number of fossil fuel corporations, including some of the world’s largest polluters, to challenge US policies in tribunals not accountable to any domestic legal system.”

Had the negotiation process leading to the TTIP remained so highly opaque, as was the case until the recent leaks, it would really sabotage the fight for energy transition. With the ink still wet on the Paris Agreement, citizens around the world are rising, demanding to keep fossil fuels in the ground. The TTIP and the ISDS are the latest tricks in the dirty industry’s book, which could turn out to be a valuable weapon in the hands of companies like Chevron and Exxon.

This is why it is important to stop it.

Categories: Opinion

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