Newcrest, however, was proceeding as if the new law didn’t apply — because, effectively, it didn’t.
The Australian company had found a way to trap Indonesia in the deals of the deposed dictator and, in the process, reap huge profits.
ISDS was once an obscure quirk of international law, but it has exploded in recent years, as elite law firms have devised new and creative ways to deploy it.
Without those dollars going towards the environment, it’s obvious that Australia needs environmental scientists more than ever to help implement strategies to reduce our C02 output—but Abbott has cut funding for research and studies by a whopping amount.
Greenpeace estimates the coal mined at the Carmichael mine will emit 128 million metric tons of carbon dioxide equivalent (Mt CO2e) annually when burned—most likely in China and India.
In a remote tropical forest in Indonesia’s Spice Islands, villagers planned their last stand.
Especially for nations struggling to emerge from corrupt dictatorships or to lift their people from decades of poverty, the mere threat of an ISDS claim triggers alarm.
A single decision by a panel of three unaccountable, private lawyers, meeting in a conference room on some other continent, could gut national budgets and shake economies to the core.
From our oceans and coasts, landscapes and inland waters, to our atmosphere and climate, CSIRO research is helping to maintain the integrity of our environments and ensure our natural resources are used sustainably.