Rather, it argues, the case represents an important chance for both governments to defend their ability to pursue climate-friendly public policy without being forced to “unjustly” enrich impacted investors.
At the moment, it’s about jurisdiction: TC Energy wants to apply the now-defunct investor-state dispute settlement mechanism in NAFTA, which expired in 2020, since the project traces its lineage as far back as 2008. The U.S., however, is arguing that the grace period was not intended as a “sunset clause” for NAFTA disputes, but “an orderly way to resolve prior disputes” that were left outstanding after the deal’s expiration.
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