Saturday, September 10, 2016

More on ISDS

Today's Star Tribune carried a commentary by Josh Wise from the Institute for Agriculture and Trade Policy, a progressive organization based in Minneapolis. Wise, like many progressives, is against the Trans Pacific Partnership, and much of his reasoning is based on its ISDS provisions.

Much of what he had to say is similar to what I wrote yesterday, but he included this point that I hadn't:

A new report by the...Institute for Agriculture and Trade Policy (IATP) demonstrates how the TPP would make it nearly impossible for countries to meet the commitments laid out in the Paris Climate Agreement.

In order to address climate change, countries are going to have to seriously rethink how they get energy. But under the TPP, attempts to incentivize renewable energy will be subject to ISDS challenges by oil, gas and coal companies. This has already happened through other trade agreements. In a similar process, the World Trade Organization ruled recently that India’s renewable energy and green jobs programs unfairly treated foreign dirty-energy companies. A similar program in Minnesota was cited by India as part of its defense.
Well, that's just what we need — more impetus to keep using fossil fuels as we cook the biosphere.

1 comment:

troutbirder said...

Mmmm. Hadn't been aware of this. Always loopholes in the fine print...:(