Sir, – I recently visited Honduras in Central America, where Trócaire has worked since 1973. There, human rights organisations are alarmed at plans by their new, Trump-backed president to return the country to the World Bank’s investor-state dispute settlement (ISDS) system.
This inequitable and undemocratic system allows big business to sue countries (but not vice versa) and is used to bully states into policies that favour corporate profits above all else. Honduras has been hit with 21 claims in the past four years that threaten to channel billions in public funds into private hands – including an $11 billion challenge to the cancelling of a policy even though it was found to be unconstitutional.
Imagine their shock at learning that the Irish Government is rushing through legislation – the Arbitration (Amendment) Bill – to sign Ireland up to the same predatory system.
We share their confusion, having seen its negative impacts on climate and environmental justice, human rights, gender equality and poverty reduction in countries where we work. In the Oireachtas recently Minister of State Thomas Byrne claimed that investment disputes are “relatively rare”.
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The evidence does not support this assertion. UN data shows that such cases have doubled over the past decade to more than 1,300, with claims growing in frequency, size and variety. The reason Ireland has been spared such claims to date is that, excepting the much-criticised Energy Charter Treaty, we have not signed up to agreements with ISDS clauses.
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If the Government has its way, however, that will all change. Why, at a time when many countries are challenging ISDS and UN bodies are criticising it, is the Government making a rod for investors to beat us with? – Yours, etc,
CHRIS O’CONNELL
Policy & Advocacy Advisor
Trócaire,
Maynooth,
Co Kildare.
