The Zombie ISDS. Rebranded as ICS, rights for corporations to sue states refuse to die

You can find the report “The Zombie ISDS. Rebranded as ICS, rights for corporations to sue states refuse to die” 

here: http://corporateeurope.org/sites/default/files/attachments/the_zombie_isds.pdf

Executive summaries are available in English: http://corporateeurope.org/sites/default/files/attachments/zombie-isds-ex-sum-en.pdf
French: http://corporateeurope.org/sites/default/files/attachments/tni_ics_summary-fr_01.3.pdf
German: http://corporateeurope.org/sites/default/files/attachments/zombie-isds-ex-sum-de.pdf
and Spanish: http://corporateeurope.org/sites/default/files/attachments/zombie-isds-ex-sum-es_0.pdf

 

The report concludes with 7 reasons to oppose the proposed Investment Court System (ICS) in TTIP, CETA, but also all other EU trade deals:

Reason #1: the ICS would empower tens of thousands of corporations to sue governments over measures to protect the environment, health, workers and other public interests

Reason #2: under the ICS, billions in taxpayer money could be paid to compensate corporations, including for missed future profits that they hypothetically could have earned

Reason #3: the ICS is a sure-fire way to bully decision-makers, potentially curtailing desirable policymaking, for example, to tackle climate change, social injustice or economic crises

Reason #4: the ICS would give exceptionally powerful rights and privileges to foreign investors, without any obligations and without any evidence of wider benefits to society

Reason #5: since only investors can sue under the ICS system, there is an incentive for the arbitrators to side with them as this will bring more lawsuits, fees and prestige in the future

Reason #6: there are severe doubts that the ICS is compatible with EU law as it sidelines European courts and is fundamentally discriminatory, granting special rights to foreign investors only

Reason #7: the ICS risks forever locking us into a legal straightjacket, as it will be practically impossible to exit from the investor privileges as a part of larger trade deals, let alone a multilateral investment court

 

 

You may also like