Who gains from saving nature
Ledger 1 : 33 — For each dollar financing nature-based solutions in 2023, about $33 financed activities harmful to nature. (UNEP)
Cases / Finance, funds and markets · United States · 2021–2024

TC Energy's claim over Keystone XL cancellation dismissed for lack of jurisdiction

Short record: the main facts, with sources. A full case file has not been prepared.

Nature's voice · report
No measurement of the harm done to me here is on record.
Did nature suffer? Not measured.
Not on record
  • The record does not name which of my species, waters, soils or forests were harmed.
What the record lacks: 2 none on record · 1 not measured See the gaps

A NAFTA tribunal rejected TC Energy's claim of more than $15 billion over the US cancellation of the Keystone XL permit, ruling in July 2024 that it lacked jurisdiction. Alberta's taxpayers were left with about C$1.3 billion of losses after the cancellation, according to Global News.

What?
TC Energy filed a NAFTA claim of more than $15 billion after the US cancelled the Keystone XL permit; the tribunal rejected it in July 2024 for lack of jurisdiction. Hydrocarbon Processing
Where?
United States (Keystone XL permit) and Alberta, Canada (state financing)
When?
Permit cancelled in 2021; tribunal ruling in July 2024 Hydrocarbon Processing
Who?
Gained
None on record
Lost
  • Alberta taxpayers — about C$1.3 billion of losses after the cancellation Global News
Harmed
None on record
Why?
Not stated in the sources reviewed.
How?
Investor claim under the transition provisions of NAFTA, dismissed on jurisdiction. Hydrocarbon Processing
6 of 6 questions answered from the record

What happened

The record, in order.

US President Biden cancelled the Keystone XL pipeline permit in 2021, and TC Energy filed a claim of more than $15 billion under NAFTA's transition provisions, according to Hydrocarbon Processing.

In July 2024 the tribunal rejected the claim without examining its merits, ruling that the cancellation came after NAFTA had ended.

Alberta had committed C$1.5 billion in direct financing and a loan guarantee of 6 billion dollars to the pipeline in 2020, and Global News reported about C$1.3 billion of losses for taxpayers after the cancellation.

    In court and with insurers

    Every proceeding and every insurer decision on record.

    Lawsuits and rulings

    1. 2024-07Dismissed
      TC Energy v. United States (Keystone XL)
      NAFTA arbitral tribunal · investor-state arbitration · TC Energy → United States

      The tribunal dismissed the claim of more than $15 billion without examining its merits, finding it had no jurisdiction because the permit was cancelled after NAFTA ended. Hydrocarbon Processing

    Insurers

    No insurer decision on record.

    What we don't know

    Undisclosed, unproven, untried: recorded as data.

    Nature

    • Not measured Harm to nature: The record holds no measurement of harm to nature.

    Record

    • None on record The outcome of Alberta's separate 2022 claim against the United States was not found in the sources reviewed.
    • None on record The sources reviewed do not describe the environmental effects of the Keystone XL pipeline.

    Did the harm stop?

    Not stated in the sources reviewed.

    Who paid?

    Not stated in the sources reviewed.

    Sources

    Voices on record: — Company or project— Government and regulators— Courts✓ Press and investigations— Communities and civil society— Researchers

    Press and investigations

    Connected cases

    Related matters, and cases linked to this one through the same organisations, with the role each played in both.

    Bonds and banking

    Guarantee
    A commitment by a third party, often a development bank, to pay if the borrower does not.

    Law and courts

    Arbitration
    A private dispute process in which an appointed arbitrator, instead of a court, decides the case.