CAMPAIGNERS demanded that Cop29 commit to ending secretive corporate courts today as the Baku summit turned its focus to finance, investment and trade.

Investor-state dispute settlement (ISDS) courts are a legal mechanism that allow corporations to sue governments for decisions which they claim impact their profits — including environmental protections. 

Global ISDS Tracker reports that around $113 billion (£88bn) has been awarded to private investors through the mechanism.

Global Justice Now director Nick Dearden said: “Negotiators can’t credibly discuss trade at Cop29 without committing to bring an end to corporate courts.

“Hidden in trade deals and little known to the public, this ISDS system has seen government after government challenged in secret courts, simply for enacting much needed climate action.

“The UK early this year left the Energy Charter Treaty which contained ISDS — citing its risks to the UK’s efforts to reach net zero. 

“It is hypocritical to not extend this stance to its all investment treaties, which allow corporations to sue governments.”

Cases of ISDS include US deep-sea mining company Odyssey Marine Exploration suing Mexico after its environmental permits were rejected and Lone Pine suing Quebec over a fracking moratorium.

Mr Dearden called for the termination of the UK-Colombia bilateral investment treaty, adding that Colombia has been “hounded” by corporate claims exceeding $13bn (£10bn).

He said: “The UK must coordinate with Colombia to end this treaty and defang one of the most powerful tools corporations hold to prevent the vital climate action we need.”