Berlin wants to get out of the Energy Charter Treaty

Berlin wants to get out of the Energy Charter Treaty

BERLIN (Reuters) – Germany’s three ruling coalition parties on Friday agreed on a package of new trade policy measures, including the withdrawal of the Energy Charter Treaty (ECT), seen as an obstacle in the fight against climate change, and the ratification of the free trade agreement CETA between the European Union and Canada.

The TCE, a convention ratified in 1994 by about fifty countries including the former Soviet Union aimed at securing western Europe’s supply of fossil fuels, has been heavily criticized by climate activists who say it stalls the energy transition. It allows the energy giants to turn against signatories to the treaty who would pursue climate policies unfavorable to their investments.

France announced its exit from the ECT last month.

“Like our European partners France, the Netherlands, Spain and Poland, we want to record Germany’s withdrawal from the TCE and at the same time ratify the CETA agreement,” the three parties explained in a press release.

Legislation confirming these measures should be presented to the Bundestag at the end of the month, they said.

(Report by Andreas Rinke, French version by Jean-Stéphane Brosse)

Reference: www.challenges.fr

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