International Investment Law as an Obstacle to Climate Protection

The episode introduces the basics of international investment law, zooming in on Investor-State Dispute Settlement (ISDS), a system of dispute resolution which allows foreign investors to seek damages, amounting on average to several hundreds of millions of euros, against governments.

Wiebe delves into the history of ISDS, explaining how fossil fuel companies like Shell were actively involved in the creation and shaping of international investment law. Stephanie outlines the most common criticisms of ISDS, including the system's lack of transparency and its potential to create a chilling effect on climate policy. She explains these dynamics further using the example of the case of ExxonMobil v the Netherlands concerning the closure of the Groningen gas  ...