There has been plenty of criticism leveled at the Trans-Pacific Partnership (TPP) — the trade pact signed earlier this month by the United States and 11 other nations.
Over the past year, we have been warning, for example, of the threat the deal poses to sustainable development and the environment. Unfortunately, recent developments have done nothing to dispel these fears. Indeed, there is growing evidence that a mechanism in the deal represents a major grant of power to corporations, one greatly disproportionate to the rights of all other domestic actors including local governments, tribal governments, environmental organizations, citizens, and companies.
That mechanism, investor-state dispute settlement (ISDS), gives multinational companies outlandish sway over regulatory policies, including environmental protection.… Seguir leyendo »