Stop outrageous corporate lawsuits in new NAFTA
An oil company called Lone Pine is suing Canada for millions under toxic ISDS provisions in NAFTA because Quebec put a temporary ban on fracking — and no one in the media is covering it.
A lot of ink has been spilled about what Trudeau’s trip to Washington will mean for the future of NAFTA, but there’s been shockingly little coverage of a dramatic NAFTA story playing out here in Canada.
This week in Toronto, oil and gas company Lone Pine Resources is using Chapter 11 of NAFTA to sue our government for over $100 million, over a temporary fracking ban under the St Lawrence River.
The Investor State Dispute Settlement rules in Chapter 11 give billionaire corporations special rights to sue governments in shadowy international tribunals for passing laws or policies that might reduce their expected profits.
Canada is already the most-sued country in the global north because of NAFTA’s Chapter 11 ISDS rules. Most corporations sue us over our environmental regulations.
These rules let corporations undermine our democracy in the pursuit of profits, and should be removed.
The NAFTA renegotiations offer an opportunity to put an end to these outrageous corporate lawsuits.