TPP would allow firms to turn to secretive international tribunals where they can sue governments for millions or billions of dollars if environmental or other public interest regulations interfere with expected future profits
The TPP undermines sound climate policy. The TPP would ramp up global warming by increasing U.S. coal, oil and gas exports to the world
7 ways the Trans Pacific Partnership threatens people and the planet, FOE USA, by Bill Waren, senior trade analyst, 13 Oct 16, The Trans Pacific Partnership trade deal is not so much about trade as it is about deregulation and forcing governments to pay corporations and wealthy investors for the cost of complying with environmental and other public interest safeguards. The TPP broadly restricts the policy space for governments to take effective environmental and climate action.
Unlike most international agreements, tribunals of trade lawyers would effectively enforce the TPP. Such tribunals could impose retaliatory sanctions like higher tariffs on the non-complying countries’ exports or award money damages that can run into millions or even billions of dollars.
Trade tribunals often treat environmental and public health regulations as trade barriers.
Until about twenty years ago, trade deals focused on reducing trade barriers like tariffs and quotas. Today’s trade deals, by contrast, focus on curbing the authority of democratic governments and legitimate courts to regulate the global marketplace. Trade tribunals often treat environmental and public health regulations as trade barriers. Trade deals like the TPP focus on dismantling many regulations that are alleged to interfere with the profits of multinational corporations and wealthy foreign investors.
Multinational corporations have lined up behind the TPP, as have Wall Street banks and Big Oil. But over 1,500 public interest organizations, such as internet freedom groups, faith-based organizations, labor unions, women’s & LBGT advocates and environmentalists, are standing up to oppose TPP……
Here are seven ways that the Trans Pacific Partnership trade deal threatens people and the planet:
1) TPP investment tribunals subvert democracy. TPP would allow firms to turn to secretive international tribunals where they can sue governments for millions or billions of dollars if environmental or other public interest regulations interfere with expected future profits. This would discourage government action like restricting oil and gas drilling, imposing pollution controls, and limiting the use of fracking (hydraulic fracturing). TransCanada, for example, is using a similar provision in the North American Free Trade Agreement to sue the U.S. for $15 billion for stopping construction of the Keystone XL pipeline.
2) The TPP undermines sound climate policy. The TPP would ramp up global warming by increasing U.S. coal, oil and gas exports to the world. The TPP is designed to protect “free trade” in such dirty energy products shipped out of West Coast ports. The result would be worsened climate change from carbon emissions across the Pacific.
3) The TPP deal threatens bees. …….
4) TPP threatens deregulation of chemical safety standards…..
5) TPP undercuts prudent food safety regulations. ….
6) TPP encourages GMOs……
7) TPP puts family farms at risk. …….
If you want to join the fight against the TPP, contact Bill Waren at wwaren@foe.org. https://medium.com/economic-policy/7-ways-the-trans-pacific-partnership-threatens-people-and-the-planet-ad49815f337b#.u2u3a5pif
