International Court of Justice Advisory Opinion on Climate Change Obligations and Its Implications for Investment Policy-making
Join IISD’s webinar on October 29 as we unpack the International Court of Justice’s (ICJ) landmark advisory opinion on states’ obligations to tackle climate change—and its implications for climate action, economic governance, and investment reform.
On July 23, the International Court of Justice (ICJ) delivered a landmark advisory opinion on the obligations of states with respect to climate change. The opinion confirms that international law imposes binding legal duties on states to take preventive and precautionary measures to avoid climate harm, and that a failure to do so can trigger international legal responsibility.
This historic ruling has major implications for international climate and economic governance, particularly investment law and policy. The Court clarified that a state's failure to take appropriate action—including through the regulation of private actors, fossil fuel production, or subsidies—may constitute an internationally wrongful act. This strengthens the legal basis for states to enact ambitious climate measures and may have significant ramifications for investor-state dispute settlement (ISDS), where such regulations are often challenged.
The International Institute for Sustainable Development (IISD) held a webinar on October 29 with a panel of leading legal experts to unpack the implications of this pivotal opinion. The discussions focused on the implications of the ruling for investment governance. After introducing the process leading to the opinion, the experts explored what the ICJ's findings mean for the future of investment treaty reform, how the opinion might influence ISDS cases, and what concrete steps investment policy-makers should consider to align their international investment agreements with states' climate obligations.
Date and Time:
- Wednesday, October 29, 09:00 AM Eastern Time (US) / 14:00 Central European Time.
Moderators:
- Elena Kosolapova, Senior Policy Advisor (International Environmental Governance), IISD
- Josef Ostřanský, Senior Policy Advisor (Economic Law and Policy), IISD
Speakers:
- Catherine Amirfar, Partner, Debevoise & Plimpton
- Jennifer Bansard, Writer, IISD Earth Negotiations Bulletin.
- Mamadou Hébié, Associate Professor, Leiden University
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