The ISDS system, buried in trade and investment agreements, grants extraordinary rights to multinational corporations to sue governments outside domestic courts. Corporations can be awarded unlimited sums to be paid by taxpayers, including for the loss of expected future profits.
The corporations need only convince the extrajudicial tribunal that laws like an environmental law, safety regulation or even minimum wage rises violates the expansive investor rights granted by such pacts.
As many governments are increasingly questioning the legitimacy of this system, the law firms and corporate beneficiaries of the regime and some ISDS supporting governments are trying desperately to defend the system, including by trying to hijack a key international intergovernmental reform discussion.
To preserve the gains made by trade unions and our allies with governments around the globe, PSI with the support of its affiliates wants to influence these global discussions with some targeted advocacy with key national governments in the next four months and into 2019.