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The Energy Charter Treaty is a little-known investment protection treaty. It allows foreign investors to claim billions in compensation from the signatory states before international arbitration tribunals if the companies feel treated unfairly by the states energy or climate policies. This procedure has numerous problems: The treaty is one-sided, because only companies can sue states. It is extremely vaguely worded and thus a gateway for investors to sue. The arbitration courts meet in secret like shadow courts. In some cases, it is not even made public that there are proceedings at all.