Energy is possibly the global economy’s most strategic sector given its implications for national security, economic growth, social stability, and ecological sustainability.
Yet 80% of the world’s primary energy comes from fossil fuels that emit greenhouse gases. If humanity is to avert the worst extremes of the climate crisis, we must all reduce our dependence on fossil fuels, rapidly and dramatically. This was recognised by UN Member States in the December 2015 Climate Agreement.
Yet, at the very time that Member States were negotiating the Paris Climate Agreement , their trade negotiators were meeting in Geneva to secretly forge a new Trade in Services Agreement (TiSA) covering Energy Related Services (ERS).
The climate crisis is recognized as the free market’s single largest failure, and there are few who think that markets have the tools needed to solve the
deepening climate crisis. Yet, TiSA’s ERS aims to strengthen the market and limit the space for government policy and regulation in the energy sector.