The current model for International Investment Agreements (IIAs) was developed 50 years ago in a political and economic context that bears little resemblance to today's, and designed for a much narrower role than such agreements now play. Many critics believe that the current international investment regime is flawed beyond repair, and argue for the complete dissolution of the regime and its replacement with a regime specifically focussed on the obligations of transnational investors. IISD shares many of the concerns, but has taken a different tack, proposing a new model for IIAs with rights and obligations for investors, home states and host states—a model consistent with the goals and requirements of sustainable development and the global economy of the 21st century.
This publication contains the full text of IISD's Model International Agreement on Investment for Sustainable Development, with an article-by-article commentary explaining in clear language the intent and nuances of the text. It is essential reading for negotiators of IIAs struggling against the current model to craft agreements that will serve their national interests. But it is also written to engage a wider audience of stakeholders concerned about the future path of international law and globalization.