In a massive victory in the fight against climate change, today, the European Parliament voted through what the Left has been demanding for years: an EU exit from the Energy Charter Treaty (ECT). 

Multinationals have used this obsolete trade agreement to sue governments for the early closure of fossil fuel plants, and settling these disputes costs billions of taxpayers’ money every year.

The ECT has protected fossil fuel investments, which directly contradicts the need to move away from coal, oil and gas. It jeopardises the EU’s climate neutrality target, runs counter to the stated ambitions of the EU Green Deal and is a real threat to global climate action.

Today’s victory results from years of global mobilisation by numerous associations and activists to exit a treaty that protects the financial interests of multinational fossil fuel corporations at the expense of regulatory autonomy and an effective social climate transition. In 2021, over 1 million European citizens called on EU countries “to pull out from the ECT”. 

Left MEP Marc Botenga (PTB, Belgium) declared: 

“Mobilisation and struggle pay off. The European Parliament just approved exiting the Energy Charter Treaty. The ECT Treaty protects the interests of Big Oil and fossil fuel corporations by allowing them to sue governments whenever they consider their massive profits threatened. People and climate matter more than their profits. Exit ECT. Then launch a massive public investment programme for renewable energy”

Left MEP Emmanuel Maurel (La Gauche Républicaine et Socialiste, France) said: 

“For the past five years, I’ve been fighting against the Energy Charter Treaty, which prevented Member States from implementing ambitious climate policies. Until now, this treaty has granted undue privileges to fossil fuel companies, enabling them to sue and withhold billions from Member States for their climate commitments. Leaving this treaty is thus a promising step towards achieving the goals set out in the Paris Agreement.”

The EU’s exit from this climate-killer treaty shows we can take bold steps to address the current climate crisis. The Left will continue fighting for a coordinated exit by all EU countries from the ECT and the termination of other 1,500 investment protection treaties that still allow big polluters to sue governments. We will continue to support public investments in renewable energy and oppose any subsidies for fossil fuel companies.