Arbitration (Amendment) Bill 2025: Second Stage
Seanad Éireann — 2026-05-06
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Nessa Cosgrove (LAB), Labour Panel

No matter what way this is presented or dressed up, it could be the most damaging and dangerous Bill to pass through the Oireachtas, with far-reaching and long-lasting consequences. Of course the Labour Party supports trade and we know that trade between Ireland and Canada has gone up. We do not support investor courts, which we believe are completely unnecessary. These secret corporate courts allow corporations to sue Governments over laws that could impact profit, for example raising the minimum wage and protecting vital ecosystems. Investor courts give corporations a veto over policies designed to protect people's health, quality of life and the environment. These are not misconceptions. Ireland already has fair rules to protect investors. If these rules are good enough for us, why are they not good enough for multinational corporations? We are literally giving away elements of our sovereignty to unelected corporations.
Germany was sued for €3 billion by Swedish investors after changing its approach to use of nuclear energy. The Netherlands and Italy were sued under another energy trade agreement. Ireland has already been threatened by two oil and gas companies that claimed they were treated unfairly. This could impact future decisions to ban fracking or gold mining, which is a massive issue where I live in the north west. Imports of LNG from Canada to the EU are set to increase in future. Could we be sued if we refuse to take this filthy gas? Trócaire, Christian Aid and An Taisce, all extremely reputable companies, have warned us of their experience of investor courts in the global south, which have increasingly been used as a weapon by extractive fossil fuel companies.
In effect, this is the creation of a governing body outside of our Constitution which threatens our Republic and contradicts the principles of republicanism. Will we see a future governed by huge multinational corporations? How are we to defend Irish farmers and growers in the agricultural sector from poor work and environmental standards? What about the Mercosur trade agreement? This legislation was rushed through, including by Ministers in my own constituency in the north west, which is going to be massively affected.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/seanad/2026-05-06/debate/main
Retrieved: 2026-08-14T04:54:54+00:00
Sitting date: 2026-05-06