The ECT allowed fossil-fuel companies to sue governments for billions in compensation for lost profits.
The UK has withdrawn from an international treaty that lets fossil-fuel companies sue governments pursuing climate policies for billions in compensation for lost profits.But signatories have struggled to reform it - and late on Wednesday, the UK quit the treaty calling it "outdated".
"However, it has been abused by the oil and gas industry over the past few years... to the detriment of British consumers." And the UK's withdrawal follows that of France, Spain and Germany, who worried the ECT would see them facing legal action from all sides - companies claiming they had breached the treaty and green organisations claiming they were not fulfilling their climate commitments.
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