ECT Modernisation Perspectives: "Can the EU Make the ECT the Greenest Investment Treaty of them All?"
Abstract
The signatories of the Energy Charter Treaty ("ECT") have begun the process of the Treaty's modernisation. This is by no means a small task given the complexity of the Treaty's scope which covers energy trading, efficiency, transit, investment protection and dispute resolution.
Additionally, in order to amend it, all the signatories need to be on board. Among other things, the signatories have declared that they want to make the ECT greener.
Recently, the Energy Charter Secretary Urban Rusnák has stated that the ECT can play a key role in the implementation of the Paris Agreement and UN Sustainable Development Goals. But he warned that if the modernisation process fails, he does not see a future for the Treaty, effectively making the process a 'make-or-break' kind of situation.