"TransCanada’s lawsuit over Keystone XL is the tip of the iceberg: Protections in two new trade deals could undermine limits in the freshly minted Paris climate pact, as investors safeguard 'expected profits'".
"A powerful legal tool designed to protect foreign investors could undermine commitments made in Paris last month to rein in climate warming emissions.
The tool is tucked into two pending trade deals President Obama wants to finalize this year. The language is de rigueur for trade agreements and is designed to protect against what's known as "loss of expected profits."
TransCanada, citing this clause in the North American Free Trade Agreement, on Wednesday filed a $15 billion lawsuit against the United States for blocking its Keystone XL pipeline.
The language gives companies an avenue to challenge regulations that undermine investment plans, and it could chill or even curtail global efforts to trim carbon emissions."