UK quits treaty that lets oil firms sue government

The UK government has decided to pull out of an international treaty that allows oil companies to sue the government for alleged loss of profits, in a move that has been welcomed by environmentalists.

The Energy Charter Treaty (ECT) has been criticized for enabling fossil fuel companies to undermine climate action and environmental regulations by threatening costly lawsuits against governments that introduce policies to reduce carbon emissions or protect the environment.

The UK’s decision to withdraw from the ECT comes as part of the government’s commitment to tackle climate change and transition to a greener economy. Environmental groups have praised the move as a step in the right direction towards aligning government policies with the goals of the Paris Agreement.

While some critics argue that the UK’s exit from the treaty could lead to legal challenges from oil companies, others believe that it is a necessary step to protect the environment and promote sustainability.