The IAEA`s work includes many treaties that play an important role in defining legally binding international rules in the areas they cover. who are anxious to have access to the rich energy resources of the South and to expand their own opportunities for power and profit. While minimizing or minimizing the risks to joining ECT, they encourage the agreement as a necessary condition for attracting foreign investment and, in particular, for investment in clean energy for all. But there is currently no evidence that the agreement is helping to reduce energy poverty and facilitate investment, let alone investment in renewable energy. 66% of the actions brought by ECT investors were filed by an investor in one EU Member State against the government of another Member State, claiming large sums of public funds that were probably not available to them under the EU legal system. In March 2018, the European Court of Justice ruled that internal procedures for investors and Member States under bilateral investment agreements were contrary to EU law because they are not taken into account by EU courts, an argument that could also apply to ECT. Reason #1: ECT is a tool for large corporations to make governments pay when they regulate, to fight climate change, to make energy affordable and to protect other public interests. It has been used to attack environmental restrictions for dirty power plants, bans on new fossil fuel projects that disrupt the climate, rising electricity prices, corrections in the event of energy privatization, and the list continues. The rewards and counts of international arbitrations proposed by the violation of the Energy Charter Treaty Act sometimes amount to hundreds of millions of dollars. In 2014, the nearly 10-year Yukos case was decided on the basis of the contract for the plaintiffs, with a record price of $50 billion. The main claims against Russia under the Yukos decision were created in accordance with Article 26. Many countries around the world are about to join ECT and are threatening to engage them in a business-friendly energy policy. Burundi, Eswatini (formerly Swaziland) and Mauritania are the most advanced in the accession process (the internal ratification of the EC).
Secondly, Pakistan (where the investment arbitration procedure is controversial, but which has already been invited to join the ECT), followed by Uganda (which is awaiting the invitation to join). A number of countries are at different stages in the preparation of their accession reports (Benin, Serbia, Morocco, Chad, China, Bangladesh, Cambodia, Niger, Gambia, Nigeria, Panama and Senegal). Many other countries have signed the non-binding political declaration of the International Energy Charter, which is a first step towards the legally binding Energy Charter Treaty. Annual investments are needed to provide energy access to all those lacking energy in the world: lessons for international investment law and sustainable development By Isabella Reynoso for Investment Treaty News (June 2019), based on Article 19 of the Energy Charter Treaty, The Energy Efficiency and Related Environmental Aspects Protocol (PEEREA) sets out policy principles that can promote energy efficiency and provides guidelines for the development of energy efficiency programs. PEEREA was negotiated, opened for signature and came into force at the same time (16 April 1998) with the Energy Charter Treaty. The Energy Charter Treaty (ECT) is an international agreement in the mid-1990s. Investor rights apply to 53 countries ranging from Western Europe to Japan to Central Asia, as well as the EU and the European Atomic Energy Community. It gives energy companies enormous power to sue states in international investment tribunals for billions of dollars, for example