3 Arbitrators dismissed TC Energy's $15bn claim over Keystone XL Pipeline in July 2024 due to CUMSA removing ISDS provisions.

3 Arbitrators dismissed TC Energy's US$15bn claim against US govt over Keystone XL Pipeline in July 2024 due to a technicality. The decision was possible due to the removal of investor-state dispute settlement (ISDS) provisions in the Canada-US-Mexico Agreement (CUMSA). 349 ISDS cases related to fossil fuel investments have led to US$82.8bn in compensation, raising concerns over the conflict between investment treaty protections and climate goals.

August 09, 2024
3 Articles