Reconciling International Investment Law and Climate Change Policy PDF Download

Author: Columbia Law School
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Author: Surya P Subedi
Publisher: Bloomsbury Publishing
ISBN: 1509975179
Category : Law
Languages : en
Pages : 391

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'...This book [...] goes beyond stating what the law is and focuses on controversies occurring within this area of the law... an excellent introduction to this complex area of international law for newcomers to the subject' Kate Miles, Australian International Law Journal The updated edition of this acclaimed book offers a critical overview of the law of foreign investment, incorporating a thorough analysis of the principles and standards of treatment available to foreign investors in international law. It is authoritative and multi-layered, offering an analysis of the key issues and an insightful assessment of recent trends in the case law, from both developed and developing country perspectives. A major feature of the book is that it deals with the tension between the law of foreign investment and other competing principles of international law. In doing so, it proposes ways of achieving a balance between these principles and the need to protect the legitimate rights and expectations of foreign investors on the one hand, and the need not to restrict unduly the right of host governments to implement their public policy on the other, including the protection of the environment and human rights, and the promotion of social and economic justice within the host country. Many of the pioneering ideas that were advanced in the first edition of this book have been taken up by governments and international organisations in their attempts to reform the investor-State dispute settlement mechanism and strike a balance between different competing principles in developing international investment law. Accordingly, this fifth edition captures the essence of the ongoing multiple reform processes – either planned or envisaged – currently underway.

Author: Annette Magnusson
Publisher: Kluwer Law International B.V.
ISBN: 9403542179
Category : Law
Languages : en
Pages : 373

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At the nexus between international investment law, climate law, and human rights law, States’ obligations to protect foreign investments clash with their right – or even their duty – to regulate to protect the planet and people. State efforts at climate change mitigation and adaptation have already triggered claims of liability under the investor-protection provisions of bilateral and multilateral investment treaties. In this comprehensive elaboration on the topic, stellar experts and practitioners describe different types of climate-related investment disputes, provide a thorough analysis of the unique procedural issues that emerge in such disputes, and evaluate the proper balance between States’ right to regulate to fight climate change and their obligations towards foreign investors. Each of the book’s contributions offers a penetrating perspective on this complex matter, touching on such aspects as the following: investment disputes arising from States’ climate measures or actions; whether and how states can file counterclaims against investors in such disputes; the appropriate role for climate science at various stages of arbitration; how to assess damages in cases involving fossil assets left stranded by the climate transition; and whether, on balance, existing international investment law supports or hinders the global energy transition. Along the way, arbitrators and other practitioners will gain insight into how to argue, defend, and assess climate-related investment disputes, using not only investment-treaty case law but also international climate agreements, human rights law, and environmental law. Policymakers are shown ways to design and implement climate policy and investment treaties in order to avoid claims by foreign investors. For policymakers, treaty and contract negotiators, dispute resolution lawyers, and international organizations, no other resource provides such incisive discussion of how to balance treaty-based investment protection against states’ inherent duty to regulate in the public interest.

Author: Yulia Levashova
Publisher:
ISBN: 9789462365872
Category : LAW
Languages : en
Pages : 0

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This book addresses the topical question on how national and international environmental concerns could be adequately integrated into international investment law. It covers the question whether international investment law restricts state sovereignty in an unacceptable way - in particular, the freedom of host states to develop national policies and regulation for the improvement of the environment. The book first analyzes the interaction between international investment law and the protection of the environment, on the basis of concepts such as sustainable development, fair and equitable treatment, and international responsibility. Secondly, several chapters discuss challenges which are encountered in attempts to integrate environmental concerns in investment policies in specific sectors and regions (e.g. climate change, water pollution, renewable and nuclear energy, and the European Union region). And, finally, specific case studies illustrate the legal and policy tensions between investment law and environmental protection, namely Vattenfall's disputes with Germany, legal clashes between Chevron and Ecuador, and multinational mining companies' conflicts in Indonesia. The contributions are written by international experts and will be of interest to policy makers and practitioners. *** Librarians: ebook available (Series: Legal Perspectives for Global Challenges - Vol. 4) [Subject: International Law, Investment Law, Environmental Law]

Author: Jacob Werksman
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 26

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Rules governing the global environment and the international economy are currently decided in separate arenas. Yet, environmental agreements can have strong economic implications, particularly with the growing use of market mechanisms. Economic liberalization rules, meanwhile, may limit the effectiveness of environmental agreements. This Climate Note assesses the potential interaction between one important market-based environmental mechanism - the Clean Development Mechanism (CDM) - and the framework of international investment law.

Author: Freya Baetens
Publisher:
ISBN:
Category :
Languages : en
Pages : 27

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The international developments over the last century, the implementation of international rules and the interaction between different fields of international law have fascinated many legal minds. The expansion of international investment law in particular is occurring at such speed and in such a manner that overlap with other areas of law, such as international rules relating to sustainable development, seems unavoidable. One international rule-set promoting sustainable development is the climate change regime formed by the United Nations Framework Convention on Climate Change and the Kyoto Protocol. Both international instruments form good illustrations of the current groundbreaking trends in thinking about international law. One particularly interesting innovation is that the Protocol explicitly provides for the involvement of private entities, such as foreign investors, to achieve its goals of limiting and reducing greenhouse gas emissions.This Paper first provides a brief overview of the climate change regime and in particular, the different ways in which private investors can participate in the execution of the Protocol, the so-called Kyoto Flexibility Mechanisms: Joint Implementation, the Clean Development Mechanism and Emissions Trading. Secondly, through the analysis of a number of investment protection standards found in most international investment treaties (expropriation, nondiscrimination, fair and equitable treatment, and the prohibition on performance requirements), this Paper addresses the problems that the implementation of the Kyoto Protocol could create for the functioning of investment arbitration (and vice versa). Finally and most importantly, the present Paper makes a number of proposals as to how the Kyoto Protocol and investment protection objectives could be reconciled and even reinforce each other.

Author: Steffen Hindelang
Publisher: Oxford University Press
ISBN: 0191058289
Category : Law
Languages : en
Pages : 497

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International investment law is in transition. Whereas the prevailing mindset has always been the protection of the economic interests of individual investors, new developments in international investment law have brought about a paradigm shift. There is now more than ever before an interest in a more inclusive, transparent, and public regime. Shifting Paradigms in International Investment Law addresses these changes against the background of the UNCTAD framework to reform investment treaties. The book analyses how the investment treaty regime has changed and how it ought to be changing to reconcile private property interests and the state's duty to regulate in the public interest. In doing so, the volume tracks attempts in international investment law to recalibrate itself towards a more balanced, less isolated, and increasingly diversified regime. The individual chapters of this edited volume address the contents of investment agreements, the system of dispute settlement, the interrelation of investment agreements with other areas of public international law, constitutional questions, and new regional perspectives from Europe, South Africa, the Pacific Rim Region, and Latin America. Together they provide an invaluable resource for scholars, practitioners, and policymakers. The individual chapters of this edited volume address the contents of investment agreements, the system of dispute settlement, the interrelation of investment agreements with other areas of public international law, constitutional questions, and new regional perspectives from Europe, South Africa, the Pacific Rim Region, and Latin America. Together they provide an invaluable resource for scholars, practitioners, and policymakers.

Author: Martin Dietrich Brauch
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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To achieve global climate change mitigation and adaptation goals under the Paris Agreement, international investment law should enable and expedite the transition away from high-emission investment toward low-emission investment. Existing international investment agreements (IIAs) providing for investor-state dispute settlement (ISDS) fail to advance climate goals and can effectively hinder states' climate action. In this chapter, I discuss the implementation of two main policy options for climate-oriented reform of international investment law - termination of climate-unfriendly IIAs and negotiation of climate-friendly ones - at various governance levels, ranging from unilateral to multilateral action. Given the mounting risks and impacts of IIAs and ISDS, as well as the lack of evidence that they encourage foreign investment flows, terminating IIAs or withdrawing from them appears to be the most effective reform option. States seeking to conclude new climate-friendly treaties or to amend existing IIAs must ensure that the treaties legally distinguish between low-emission and high-emission investments. Climate-friendly IIAs must not hinder climate action ('do no harm'), by denying treaty protections to high-emission investments, limiting their establishment and expansion, removing incentives such as fossil fuel subsidies, and requiring investments to be made responsibly. In addition, IIAs should leverage the potential contribution of foreign investment to climate goals ('do good'), by incentivising, promoting, facilitating, and protecting low-emission investments only, and by supporting a just transition to a low-emission world. In line with broader efforts to reform international investment law, climate-aligned IIAs should also exclude or circumscribe controversial provisions (fair and equitable treatment [FET], legitimate expectations, indirect expropriation, and most-favoured-nation [MFN], to name a few), prohibit treaty-based challenges to climate policy measures, and deny substantive rights and access to treaty-based dispute settlement mechanisms to high-emission investments. Climate-unfriendly investors would instead need to rely on substantive rights and procedural avenues based on domestic laws.

Author: Tomás Restrepo Rodríguez
Publisher: Springer Nature
ISBN: 3031186559
Category : Law
Languages : en
Pages : 348

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The book deals with the question whether the investment treaty law system could be harmonized with the climate change international legal framework and the climate interest that lies beyond. The answer to this research question is divided into three parts. The first examines the relevance of the climate change international legal framework in investment treaty disputes as a natural pre(logical)interpretative stage. The second focuses on the BIT’s content-interpretation, which is the orthodox approach to solve the fragmentation between the system of investment treaty law and the system of international climate change law. Finally, the third part tackles this fragmentation through a heterodox approach that is grounded in the direct application of climate change principles through law ascertainment. Apart from concluding that harmonization between investment treaty law and international climate change law is possible through the orthodox approach to the expropriation and the FET standards, as well as through the direct application of the climate change precautionary principle and the CBDRRC principle − heterodox approach, the book suggests that tribunals are expected soon to openly address climate change disputes in their rulings.

Author: Saverio Di Benedetto
Publisher: Edward Elgar Publishing
ISBN: 0857936654
Category : Law
Languages : en
Pages : 266

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This book is essential reading for academics of international investment law and related matters, with useful research material for both practitioners and policy-makers. Moreover, the innovative approach of this book makes it appropriate for adoption i