In practice, it has allowed foreign companies to challenge energy policies that threaten their investments under a secretive arbitration process. "The Energy Charter Treaty is outdated and in urgent need of reform but talks have stalled and sensible renewal looks increasingly unlikely," UK Energy Security and Net Zero Minister Graham Stuart said. 'Explosion' of claimsIt initially it sought to bring post-Soviet eastern European energy sectors into a cooperative framework with western European ones. But as countries have shifted towards renewable and more sustainable energy sources, European governments have increasingly baulked at remaining part of the treaty. Shaun Spiers, executive director of environmental think-tank Green Alliance, welcomed the UK government's decision.

Source: Daily Nation February 22, 2024 11:22 UTC