Denmark plans to exit Energy Charter Treaty

April 13, 2023 11:47 PM AEST | By Reuters
Follow us on Google News:
Image source: Reuters

COPENHAGEN (Reuters) - The Danish government is working towards exiting the Energy Charter Treaty (ECT), the country's energy ministry said on Thursday as growing dissatisfaction with the agreement in Europe casts doubt over its future.

"As the Energy Charter Treaty looks now, it creates unnecessary uncertainty about the green transition," Climate, Energy and Utilities Minister Lars Aagard said in a statement.

While the treaty also covers green investments, other legal frameworks ensure investors can safely invest in green projects in Denmark and elsewhere, he added.

The 1998 treaty was designed to protect companies in the energy industry by allowing them to sue governments on policies affecting their investments, but has in recent years been used to challenge policies that require fossil fuel plants to shut.

France, Germany, the Netherlands, Poland and Spain have already announced plans to quit the treaty, increasing pressure on Brussels to coordinate an EU-wide withdrawal.

(Reporting by Louise Breusch Rasmussen, Nikolaj Skydsgaard, editing by Terje Solsvik)


The above content is directly sourced from Reuters under a contractual arrangement. The content is being provided as a convenience and for informational purposes only; and does not constitute an endorsement or approval by Kalkine Media of any of the products, services, or opinions of the organization or individual. The user is apprised that Kalkine Media bears no responsibility for the accuracy, legality, or content of Reuters, any external sites, or for that of subsequent links. The user is requested to contact Reuters directly for answers to questions regarding the content. Please note that Kalkine Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK