Fossil fuel firms sue governments across the world for £13bn as climate policies threaten profits

Fossil fuel firms sue governments across the world for £13bn as climate policies threaten profits

Fossil fuel companies are suing governments across the world for more than $18bn (£13bn) after action against climate change has threatened their profits, according to research conducted by campaign group Global Justice Now and provided exclusively to Sky News.

Five energy companies, including British companies Rockhopper and Ascent, are using a legal process that allows commercial entities to sue governments under international laws governing trade agreements and treaties.

These corporate arbitration courts operate outside of a country's domestic legal system.