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E - C - T, an obscure acronym. And yet, it could decide Europes green future. The Energy Charter Treaty is an agreement signed by 53 countries around the world. It gives corporations mighty powers to sue a country for billions of taxpayer funds under the claim that the government has harmed their investment. In just one such case, Russia was instructed to pay $50bn to oil company Yukos. That is the same amount Russia pays per year to provide healthcare to 95 million Russians - or 65% of the population. Investigate Europe reporters peeked into this black hole: Cases are not decided in national or international courts by judges following laws but by arbitrators following vague rules that defend the interests of the energy industry with the whole process marked by a lack of transparency. Lawyers often plagued by conflicts of interest, rotate between representing clients as counsel and deciding cases as arbitrators making vast fortunes in the process. And corporations often hide behin
