Regulatory cooperation under the proposed EU-US trade deal (TTIP) will strengthen corporate lobbyists’ hand in attacking public interest legislation and curb the power of elected politicians according to a report released today.
“Dangerous Regulatory Duet: How transatlantic regulatory cooperation under TTIP will allow bureaucrats and big business to attack the public interest” by Corporate Europe Observatory and LobbyControl challenges European Commission claims that the Transatlantic Trade and Investment Partnership (TTIP) currently under negotiation will not result in lower standards and highlights examples that show how regulatory cooperation has already put corporations in the policymaking driving seat and undermined democratic decision-making.
TTIP’s regulatory cooperation chapter seeks to align existing and future EU and US standards, restricting the ability of elected representatives to introduce measures and standards in the public interest.
From curbing environmental protection rules, to helping financial conglomerates escape scrutiny; from sidestepping data privacy legislation, to delaying rules on animal testing, the case studies in the report show that lobbyists have made much use of regulatory cooperation to subvert public interest law-making and advance a transatlantic corporate agenda.
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