The recent legal challenge brought by TransCanada seeking $15 billion in damages over the Obama Administration’s decision to reject the Keystone Pipeline, has raised new questions about the TPP. The suit was brought under the North American Free Trade Agreement (NAFTA), which grants corporations special rights to challenge U.S. laws and undermine climate policy. The TPP includes the same corporate rights provisions, and would allow an additional 9,000 foreign corporations to challenge U.S. laws.
“The TransCanada case is a red flashing warning sign about whose interests these trade deals represent. These same corporate rights provisions have successfully challenged rural communities’ democratic rights to limit fracking and regulate mining,” said IATP’s Climate Director Ben Lilliston. “This deal is literally in climate denial—the words climate change are nowhere in the text. Yet the TPP supports an extractive, climate-damaging mode of globalization that has led to mass deforestation, fossil fuel withdrawal and an energy-intensive industrial model of agriculture.”
To read more, click HERE!