"The oil giant has filed a notice of dispute under an energy treaty about the European Union’s carbon capture and storage requirements."
"ExxonMobil is striking back against a European Union climate rule built around carbon capture and storage, a technology the oil giant has promoted as a way to address global warming.
The company’s affiliates filed a notice of dispute under the Energy Charter Treaty, according to the arbitration industry publication Investment Arbitration Reporter. That treaty is a 1990s-era investment agreement that gives corporations the right to sue governments before arbitration panels when they believe new policies harm their profits.
The process, known as investor-state dispute settlement, or ISDS, has become a flashpoint in debates over governments’ ability to address climate change and enact environmental and public health protections.
At the center of Exxon’s challenge is the European Union’s 2024 Net-Zero Industry Act, which sets a goal for injecting carbon dioxide deep underground to prevent it from warming the climate. Exxon affiliates are among the companies required to help the bloc be able to sequester 50 million metric tons of CO2 annually by 2030."
Katie Surma and Nicholas Kusnetz report for Inside Climate News July 28, 2026.
