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Companies can sue governments for closing oilfields and mines – and the risk of huge damages is already stopping countries from passing green laws, ministers say

Edit: I just found a totally relevant article and thought of adding it here, instead of making a new post.

how Wall Street is making millions betting against green laws

Now, however, the sector has found a far larger playground: financing massive arbitration lawsuits launched by companies against governments, where claims can stretch to tens of billions of dollars.

These cases come under a little-known area of international law called investor-state dispute settlement (ISDS), which allows corporations to sue countries for actions that hurt their profits.

With litigation funders facing no risk of a counterclaim, and potential awards that now average more than $200m (£160m), legal experts warn that the system has become a “gambler’s nirvana” for hedge funds and specialist financiers.