German cabinet approves exit from Energy Charter Treaty
2022.11.30 07:55
Germany’s withdrawal from the Energy Charter Treaty
Budrigannews.com – On Wednesday, Germany’s Economy Minister Robert Habeck made the announcement that his country would no longer be a signatory to the Energy Charter Treaty. This decision was made in light of the fact that Europe’s growing dissatisfaction with the agreement raises questions regarding its viability.
Following a cabinet meeting in which ministers approved the move, he stated, “The Energy Charter Treaty has proven itself in the past to be an obstacle for change.”
In recent years, the international agreement has been criticized for allowing fossil fuel users to claim compensation when they are forced to shut down plants. Its purpose is to guarantee energy supplies and provide protection to businesses investing in the energy sector.
