European Union member states agreed on Thursday to jointly leave a 1990s energy treaty that allows oil companies to sue governments over their climate policies, EU officials told Reuters. The Energy Charter Treaty (ECT), signed in 1994 and in force since 1998, was originally designed to promote international investment in the energy sector and has historically provided protections for investors in fossil fuels. The treaty basically allows oil firms to sue governments for compensation for lost profits if they think energy policies have…
