On June 30, 2026, ICSID published a Background Paper on Contract-Based ICSID Arbitration, with data to December 31, 2025. It records 175 contract-based cases registered since 1972, 16% of the total ICSID caseload, of which 47% arise in oil, gas, and mining, a far higher share than the 26% those sectors represent in the overall caseload. Tribunals declined jurisdiction in only 14% of contract-based awards, against 20% across the overall caseload, and analysis of the data shows investors succeeding more often than in treaty-based cases. In June 2026 ICSID also issued a revised set of Model Clauses for Contracts, providing drafting language for submitting disputes to ICSID, including under the Additional Facility. The publications confirm institutionally what practitioners have observed: as states retreat from treaties, protection is migrating into the contracts they negotiate directly. Given the extractive sector’s dominance of this caseload, the quality of mining and petroleum contract drafting is becoming as consequential for state exposure as treaty policy itself.