Editor's note: Nina-Bytes is a weekday blogging series that features short analysis and commentary on articles from around the web.
Corporations Have the Power to Sue Governments Over Resource Extraction Policies
As a woman whose herky-jerky journey towards becoming a socialist began in the anti-globalization movement of the late 1990s, it's been pretty surreal watching the dystopian future I was fighting against back then, become today's everyday reality. In those days, plenty of analysts on the left warned that more than a fight about jobs and wages, the battle over free trade policies was a contest about surrendering state power to corporate control. With each new trade agreement, came new international rules and bodies to enforce a capitalist framework on the participating countries; essentially forever, and certainly regardless of who they elected.
Although I didn't know anything about it at the time, this line of reasoning tracks closely with theories about neoliberalism published by David Harvey and Karl Polanyi. Harvey in particular argues that the foundational goal of neoliberalism is to restore and increase ruling class power, specifically at the expense of democracy and people power. As Yanis Varoufakis and the citizens of Greece discovered, even if you elect a nominally socialist government, these agreements can prevent you from enacting socialist reforms. Which begs the question, what happens when socialist reforms become literally the only way to save life on Earth?
Well, as it turns out the answer is nothing good. In this November 2nd, 2021 article by Manuel Pérez-Rocha at Truthout, we come face to face with the results when globalization's free trade regime comes into conflict with preventing climate crisis. The answer is, rich guys and corporations can sue your government in a corporate kangaroo court, to block action and/or collect millions, if not billions of dollars in damages. To the surprise of precisely no one, this system has primarily been used by resource extraction companies in the global north, against developing nations in the global south; because capitalism is nothing if not consistently racist.
All of which brings us to the same problem with the COP26 climate summit that we discussed yesterday; none of the promises world leaders make in Glasgow mean anything at all, as long as the policies and agreements they pursue at home continue to lock us into a dystopian climate apocalypse. Telling me you're serious about fighting climate crisis while simultaneously signing and enforcing trade agreements that allow corporations to sue for their right to destroy the world, is a little bit beyond just insulting my intelligence. Literally nobody at COP26 is going to talk about dismantling the investor-state dispute settlement (ISDS) system, which means most of their bold pledges are demonstrably nothing more than hot air.
Which sadly, is par for the course I'm afraid.
- nina illingworth
Anarcho-syndicalist writer, critic and analyst.
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