"Over 220 organizations call on Colombian government of Gustavo Petro and Francia Márquez to withdraw from international investment treaties that enable million-dollar corporate claims", 07 March 2023

...Today, more than 220 organizations, with strong representation from groups involved in the defense of water, life and territories, including networks, organizations and unions from Colombia, Latin America and around the world, launched a petition urging the Colombian government to withdraw from treaties that enable transnational corporations to sue the country in tribunals designed to favour their interests.

The extractive sector uses this system more than others, and companies such as Glencore and Eco Oro have sued Colombia over decisions to prioritize protection of the páramo ecosystem (high altitude wetlands), water and Indigenous rights. Currently, the National Agency for the State’s Legal Defense reports that there are thirteen such suits against Colombia and eight more in earlier stages with roughly US$2.5 billion dollars in known claims...

The signatories argue that the arbitration system is incompatible with human rights and environmental protection...and is used as a form of blackmail when governments or their courts put limits on corporate abuse and protect the environment or the rights of their people...

The signatories further emphasize precedents from other countries that have reviewed and withdrawn from this arbitration system, without affecting their trade relations. The United Nations has also recommended renegotiating or withdrawing from such treaties...