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Nobel Laureate: UN Reform Needed to Stop Climate Rule Fights

Multinational companies will increasingly file massive cases against host countries when climate change policies affect their profits, Nobel Prize-winning economist Joseph Stiglitz said. To stop governments from weakening their environmental laws to avoid such disputes, reform of a little-known international trade process — the investor state dispute settlement (ISDS) — is needed, he said.  Under ISDS, a nation that hurts a company’s profits by imposing new rules that add to the...

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