Fossil fuel companies could jeopardize worldwide efforts to protect the climate, using a legal tool that could cost countries billions of dollars. Thousand of treaties would allow foreign investors investors to demand compensation in response to government actions like canceling pipelines and denying drilling permits. It’s estimated that countries would face up t o $340 billion in legal and financial risks for canceling fossil fuel projects subject to such treaties. The threat of massive payouts to investors could cause many countries to delay climate mitigation policies.
Climate Crisis Blog
