Canada Says U.S. Companies’ $31M Loss On Cap-And-Trade Not A Valid NAFTA Claim

Mealey's (August 4, 2022, 3:52 PM EDT) -- WASHINGTON, D.C. — The government of Canada argues in a countermemorial released to the public on Aug. 2 that the International Centre for Settlement of Investment Disputes (ICSID) has no jurisdiction under the North American Free Trade Agreement (NAFTA) to hear Koch Industries Inc. (KI) and its subsidiary’s claims for more than $31 million in damages, arguing that the Koch entities’ payment under Ontario’s cap-and-trade program was “not an investment in Canada.”...