Biden administration reaches deal limiting controversial protections for multinational corporations
Inside Climate News reports: The Biden administration announced a last-minute deal on trade this week, reaching an agreement with Colombia to limit protections for investors between the two countries. The move represents a small step toward reforming a system that has awarded multinational corporations more than $100 billion in taxpayer funds from countries around the globe. Investor state dispute settlement, or ISDS, allows foreign companies to bypass national courts and sue governments before panels of arbitrators if they believe their…