On the occasion of German government delegation with Chancellor Olaf Scholz’s visit to Canada, and ahead of the announced ratification of the EU–Canada Comprehensive Economic and Trade Agreement (CETA) by the German parliament, German and Canadian civil society organisations have published a joint statement to stop the ratification of CETA.
“While most parts of CETA have been provisionally applied in Europe and Canada for nearly five years, the agreement’s controversial investment protection provisions have not. These provisions, including the planned Investment Court System (ICS), would grant foreign investors the privilege to sue states before a private arbitration tribunal instead of in national courts when public policies affect their ability to profit. This chapter would come into effect only after full ratification of CETA in all EU member states.”
The full ratification of CETA would massively expand investor privileges not only for Canadian and European companies but also, for example, for U.S. corporations with subsidiaries in Canada and in Europe. Any obligations for investors are not foreseen. Neither does the agreement enable the civil society organisations to bring a claim when a company violates environmental, labour, health, safety, or other rules.
The statement has been signed by a wide spectrum of environmental organizations, trade unions and cultural associations.
Source: Trade Justice Network : Joint statement