Considerations on COM(2023)447 - Withdrawal of the Union from the Energy Charter Treaty - Main contents
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This page contains a limited version of this dossier in the EU Monitor.
| dossier | COM(2023)447 - Withdrawal of the Union from the Energy Charter Treaty. |
|---|---|
| document | COM(2023)447  |
| date | May 30, 2024 |
(2)In the absence of any substantial update of the Agreement since the 1990s, the Agreement became increasingly outdated.
(3)In 2019, the Contracting Parties to the Agreement engaged in negotiations aimed at modernising the Agreement in order to bring it into alignment with the principles of the Paris Agreement 9 , the requirements of sustainable development and the fight against climate change, as well as with modern standards of investment protection.
(4)The Contracting Parties concluded the negotiations on 24 June 2022. The negotiated outcome was meant to the adopted at the 33rd meeting of the Energy Charter Conference on 22 November 2022.
(5)Ahead of the meeting of the Conference, the Union was unable to find a common position on the modernisation of the Agreement.
(6)In the absence of a Union position, the adoption of the modernised Agreement by the Energy Charter Conference is impossible. The current, unmodernised Agreement continues to apply to the Union, in spite of the fact that it is not in line with the Union’s investment policy and law, including in particular the principle of autonomy of Union law, and with the Union’s energy and climate goals
(7)With no alternative available, it is therefore necessary for the Union to withdraw from the Agreement.
(8)Pursuant to Article 47(1) of the Agreement, a Contracting Party can give written notification of its withdrawal from the Agreement to the Depository of the Agreement, namely the Portuguese Republic [See https://publications.europa.eu/code/en/en-370100.htm]. Pursuant to Article 47(2) of the Agreement, such a withdrawal takes effect upon the expiry of one year after the date of the receipt of the notification by the Depositary.