Exclusive: Climate lawsuits could see governments pay over £13 billion to firms over policy shift

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Five big companies are suing governments for a possible loss of earnings due to the shift away from fossil fuels around the world.

One example is the Dutch government’s move to shut down coal-fired power plants by 2030 with the German company Uniper who operated a plant have acted to sue.

A spokesperson said: “Uniper is convinced that shutting down our power plant in Maasvlakte after only 15 years of operation would be unlawful without adequate compensation.

“International law provides a different standard of investment protection open to investors from other countries in international courts. The international tribunal is appointed by both parties, i.e. the Dutch state and Uniper.

“We are convinced that such an international tribunal will also form an objective opinion.”

The cases are part of the Energy Charter Treaty within the International Centre for The Settlement of Investment Disputes, a branch of the World Bank.

Sky’s Climate Change Correspondent, Hannah Thomas-Peter explains.

Read her piece here for more: https://news.sky.com/story/fossil-fuel-companies-are-suing-governments-across-the-world-for-more-than-18bn-12409573

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