This story [1] was originally published on OpenDemocracy.net/en/.
   License: Creative Commons 4.0 - Attributions/No Derivities/
   international.
   --------------------------------------------------------------


UK taking ‘green’ advice from energy giant suing Dutch for phasing out coal
By:   []
Date: None

The government says that the council will advise on Britain’s inward investment strategy. Its announcement said the UK would this year “host a Global Investment Summit to secure foreign investment in UK green industries of the future” ahead of November’s COP26 Climate Summit in Glasgow.

Seven of the 40 council members are leaders of companies that have sued countries – over a range of issues – via the same controversial investor-state dispute settlement (ISDS) system that RWE is using to sue the Netherlands after the Dutch government decided to phase out coal by 2030.

The RWE suit claims the Dutch government has violated the company’s rights under what is called the Energy Charter Treaty – a huge and controversial international trade deal that is focused on the energy sector.

Recent research by Investigate Europe found that €141bn of energy assets in the UK are covered by this treaty – causing concern that the UK government could face a wave of similar suits if it takes bolder action to cut emissions.

Global Justice Now campaigns and policy manager Jean Blaylock told openDemocracy: “‘Corporate court’ cases like this are some of the biggest obstacles to governments taking climate action. If the UK government really wants to ‘build back better’, they must not take advice from companies like RWE.”

“RWE built a coal power station [in the Netherlands] at a time when the need to stop fuelling the climate emergency was already clear,” Blaylock added.

A spokeswoman for RWE told openDemocracy that the company had set a carbon neutrality goal by 2040. “We are committed to the phase out of coal. [The Dutch case] doesn’t change our long term ambitions as a company and our commitment to renewables,” she said.

A Tory donor and more coal

Egyptian-British businessman Mohamed Mansour also has a council seat. Last year openDemocracy revealed that his company received a major government export deal days after he donated to the Conservative Party.

Representatives from four banks were also appointed to the advisory group – Citi, HSBC, Santander and UBS. Between them, these banks have invested more than £300bn in fossil fuels since 2016, according to the recent report ‘Banking on Climate Chaos’ by the Rainforest Action Network.

The council’s other members include Engie, which has coal-fired power plants around the world. It says it will divest from coal by 2027 but is one of a few major European utility companies without a net-zero emissions target.

The new council “will cement the investor lens” in government strategy, and will meet twice a year, and at other times as needed, “to provide high-level strategic advice”, the announcement said.

It should also “advise on policy and regulatory changes” to attract foreign investment, and “signal to our global partners that the UK is ready and open for business as an independent trading nation.”

[1] Url: https://www.opendemocracy.net/en/oureconomy/uk-taking-green-advice-from-energy-giant-suing-dutch-for-phasing-out-coal/