TTIP proposal casts doubt on G20 climate pledge, leaked EU draft shows

The EU’s draft text for a trade and sustainable development chapter also appears to draw an equivalence between the need to prevent trade distortions and the fight against .

 

The leak will provide fresh ammunition to critics of the Transatlantic Trade and Investment Partnership (TTIP) free trade deal, who fear that its provisions could undermine hard-won climate commitments.

 

One of these was a pledge in May to phase out inefficient fossil fuel subsidies by 2025 – which currently run at $10m (£7.5m) a minute – by G7 ministers at a summit in Japan.

 

The EU’s proposal will be discussed in a 14th round of TTIP negotiations currently underway in Brussels. It says that both the EU and US share the goal of phasing out such subsidies, where this “encourages wasteful consumption”.

 

Trade negotiators in Brussels are proposing new loopholes on a G20 pledge to phase out fossil fuel subsidies within a decade, in the latest leaked TTIP proposals seen by the Guardian.

 

 

Staff Favourites View more

Staff Favourites
When you or our staff find great progressive news articles, we post them here. Send along your personal favourite story links to: favourites (at) ukprogressive (dot) co (dot) uk and we may select it for publication.

Leave a Comment