My article in todays Indo👇
Some highlights:
....."The move to deregulate financial markets was one of the main causal
factors of the global financial crash. Regulation, however inconvenient to big
businesses, has a crucial role in democracy and economic stability. It provides
safeguards against exploitation and protects hard earned rights of the most
vulnerable in society....."
Climate Change: The most dangerous aspect of CETA is the Investment Court System (ICS) which allows foreign investors to sue governments for enacting policies that interfere with their profits. For example, signatories to the Paris Climate Agreement in Europe are required to change laws in favour of renewable energy. However, under ICS foreign investors could legally challenge that legislation. Unlike CETA, the Paris Agreement is not legally binding. Efforts to reduce fossil fuel extraction and use could be undermined by industry investors being afforded protections not extended to the environment and public health.
Farming: Canada has lower production standards and allows carcasses to be cleaned using chemicals such as chlorine. As a result, Canada produces meat 60% cheaper than the EU. Increasing Canadian imports could therefore significantly impact European farmers, particularly already beleaguered Irish Beef farmers, who would struggle to compete on price and scale with Canadian counterparts. Which is probably why The Irish Cattle and Sheep Farmers’ Association rejected CETA in 2017.
Sovereignty and democracy: Article 30.9 of CETA states. “In the event that this Agreement is terminated, the provisions of Chapter Eight (Investment) shall continue to be effective for a period of 20 years after the date of termination of this Agreement in respect of investments made before that date”. Our planet can’t wait 20 years and our children won’t forgive us for locking them into this disastrous deal.
It’s no wonder former UN expert on human rights, Alfred-Maurice de Zayas referred to “corporate courts” as “an attack on the very essence of sovereignty and self-determination”. He warned that some 608 arbitration awards overrode national law and hindered States in the sovereign determination of fiscal and budgetary policy, labour, health and environmental regulation, and have had adverse human rights impacts..."
"Food safety: The
EU’s “precautionary principle”, whereby the onus is on food producers to prove
that chemicals used are safe, will be deemed a “barrier to trade”, permitting a
common regulatory mechanism, where any substance can be used until it is proven
unsafe. Canada has weaker food safety and labelling standards than
the EU, and industrial agriculture more heavily dependent on pesticides and GM
crops. CETA also allows Canadian and US multinationals to undermine rules
concerning cloning, GM crops and growth hormones.
Thus far, the Green
Party has done the bidding of its neo-liberal coalition partners on matters of
social justice, ostensibly keeping its powder dry for climate justice.
Notwithstanding the fact that the two are inextricably linked, if the Greens
vote to ratify CETA, it begs the question: what is the point of the Green Party
if it’s just propping up a government that continuously puts multinational
interests before those of our planet and country?"