December 18, 2020: The Guardian reports that Clive Palmer’s Singapore-based company, established only in 2019, has acted on his threat to sue the Commonwealth Government for billions of dollars using the Investor-State Dispute Settlement (SDS) clauses in the Singapore-Australia free trade agreement.
ISDS allows foreign investors to sue our Government
Investor-State Dispute Settlement
MEDIA RELEASE October 27, 2020
“There is a pattern emerging of Australian mining companies suing developing countries for billions of dollars in unfair international tribunals,” AFTINET Convener Dr Patricia Ranald said today in an article published on the Michael West website.
October 8, 2020: ‘Raising the cost of climate action?’, a new report from the International Institute for Environment and Development issued on October 4, 2020, includes a focus on coal-fired power stations covered by investment treaties which contain Investor-State Dispute Settlement (ISDS) provisions.
September 23, 2020: As former Australian Prime Minister Tony Abbott now advises the British government in its trade negotiations with the European Union, Australia and New Zealand, the trade unions from the three countries have issued a united call for decent work and high standards of health, environment and public services.
September 17, 2020: Reports on the Energy Charter Treaty process to ‘modernise’ continue to demonstrate entrenched opposition to efforts to make it support the Paris Climate Agreement to limit global warming to less than 20C.
September 10, 2020: The Energy Charter Treaty with its Investor-State Dispute Settlement provisions has become a major obstacle to the Paris Climate Agreement, and current European efforts to reform it appear unlikely to succeed. EU parliamentarians are now calling for states to withdraw from it by the end of 2020.
September 3, 2020: The second-largest damages claim awarded to a foreign investor against a government was US$5.8 billion, in July 2019, to the Australian subsidiary of Tethyan Copper Company against the government of Pakistan. Canadian academic Kyla Tienhaara argued in an article in the Conversation that this Investor-State Dispute Settlement (ISDS) ruling demonstrated that the global economic governance model is broken.
September 1, 2020: A new report by the Netherlands-based Transnational Institute reveals a rush of international arbitration cases against Latin American states by international investors during the COVID-19 pandemic. Some cases relate to pandemic control measures, and others to ongoing cases.