On the 21st local time, French President Emmanuel Macron announced in Brussels that France would withdraw from the Energy Charter Treaty because it was deemed inconsistent with the goals of the Paris Agreement.
Spain and the Netherlands had already withdrawn from the treaty.
Some pundits believe that the Energy Charter Treaty, signed in 1994, is too protective of fossil fuel energy.
Earlier, the French High Commission for Climate had given an assessment in an opinion on October 20 that France and the European Union should withdraw from the Energy Charter Treaty because the 30-year-old treaty is in line with the provisions of the Paris Agreement. "Decarbonization timetable" does not match.
The Energy Charter Treaty was signed in 1994 and entered into force in 1998. Its members include a number of European and Asian countries, the European Union, and member states of the European Atomic Energy Community. It is a legally binding multilateral treaty in the international energy field.
The treaty aims to secure regional energy supply and provide protection for multinational energy companies, especially fossil fuel companies.
The treaty gives energy companies the right to sue host governments and seek compensation for policies that harm their investments.
(Headquarters reporter Jiang Hua) (Source: CCTV News Client)