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France withdraws from treaty protecting energy investments

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France withdraws from treaty protecting energy investments

Robert Besser
25 Oct 2022, 00:19 GMT+10

  • France is the latest country to opt out of the the Energy Charter Treaty which protected investments in the energy sector.
  • The treaty was designed to secure energy supplies and grants protection to companies investing in the energy industry.
  • Other European countries, such as Spain and the Netherlands, have already pulled out.

BRUSSELS, Belgium: France is the latest country to opt out of the the Energy Charter Treaty which protected investments in the energy sector, said President Emmanuel Macron on Friday.

Other European countries, such as Spain and the Netherlands, have already pulled out.

The treaty, which has more than 50 signatories, including the European Union, was designed to secure energy supplies and grants protection to companies investing in the energy industry.

However, in recent years it has been used by fossil fuel and renewable energy companies to sue governments for regulatory changes that threaten returns on specific investments.

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