MOSCOW (Sputnik) — According to the Transnational Institute’s updated report, the original version of which came out in November 2014, CETA “poses a serious threat to governments efforts to protect citizens and the environment” due to its Investment Court System (ICS) investor-state dispute settlement mechanism.
“[ICS] could unleash a corporate litigation boom against Canada, the EU and individual EU member states, and could dangerously thwart government efforts to protect citizens and the environment,” the international research and advocacy institute’s report said.
“These investor-state lawsuits are decided by private commercial arbitrators who are paid for each case they hear, with a clear tendency to interpret the law in favour of investors,” the report added.
In September 2014, the European Union and Canada announced the conclusion of the CETA agreement. Brussels and Ottawa hope that CETA, which seeks to lower trade barriers and create more jobs, will be signed this fall and implemented in early 2017.