(OTTAWA) — The Green Party of Canada welcomes yesterday’s ruling by the European Court of Justice (ECJ) that the Investor-State Dispute Settlement (ISDS) clauses in the Netherlands-Slovakia investment treaty are incompatible with European Union (EU) law.
“This decision could call into question the legality of ISDS clauses in other EU trade deals, including the EU-Canada Comprehensive Economic and Trade Agreement (CETA),” said Green Party international trade critic Paul Manly. “In CETA, the Investment Court System is similarly structured to allow corporations to sue governments if legislation interferes with a corporation’s ability to maximize profits. The ECJ will soon rule on whether the Investment Court System is in fact consistent with EU laws.
“The Green Party has long argued against trade dispute settlement mechanisms that allow foreign corporations to override domestic laws designed to protect the environment and community well-being. They are inherently anti-democratic and should be removed from all trade agreements and ISDS measures to which Canada has committed. That means NAFTA’s chapter 11 and the ISDS mechanism in the revised Trans-Pacific Partnership (TPP) must be scrapped as well. Canadian sovereignty is at stake,” concluded Mr. Manly.
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