Why fear of billion-dollar lawsuits stops countries phasing out fossil fuels
Companies can sue governments for closing oilfields and mines – and the risk of huge damages is already stopping countries from passing green laws, ministers sayRevealed: how Wall Street is making millions betting against green lawsIn the mountains of Transylvania, a Canadian company makes plans for a vast gold and silver mine. The proposal – which involves razing four mountain tops – sparks a national outcry, and the Romanian government pulls its support.After protests from local communities, the Italian government bans drilling for oil within 12 miles of its shoreline. A UK fossil fuel firm has to dismantle its oilfield. Continue reading...
Companies can sue governments for closing oilfields and mines – and the risk of huge damages is already stopping countries from passing green laws, ministers say
In the mountains of Transylvania, a Canadian company makes plans for a vast gold and silver mine. The proposal – which involves razing four mountain tops – sparks a national outcry, and the Romanian government pulls its support.
After protests from local communities, the Italian government bans drilling for oil within 12 miles of its shoreline. A UK fossil fuel firm has to dismantle its oilfield. Continue reading...
