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LNG firm’s $20-billion lawsuit against Canada exposes NAFTA’s toxic legacy – National Observer

December 14th 2023

An American company wanted to build a massive fossil fuel project in Quebec. After full public debate, the provincial and federal governments rejected the plan based on environmental concerns. The company launched a record-breaking NAFTA lawsuit against Canada — confirming the dire threat that investor-state dispute settlement (ISDS) poses to bold climate action.

The case — the largest in NAFTA’s history — drives home the growing conflict between forward-looking, ambitious climate action and retrograde investment treaties that indemnify foreign investors from government decisions that cut into their future profits.

Ruby River Capital, a Delaware-registered corporation owned and controlled by two U.S. venture capital firms, proposed to build a natural gas liquefaction plant and maritime terminal on the Saguenay Fjord near the mouth of the St. Lawrence River.

Read More: https://www.nationalobserver.com/2023/12/14/opinion/lng-firm-20-billion-lawsuit-against-canada-exposes-naftas-toxic-legacy

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