Current Issue

ITN June 2022

An interview with Wolfgang Alschner on Investment Arbitration and State-Driven Reform: New Treaties, Old Outcomes. By Wolfgang Alschner & Florencia Sarmiento.

Three key principles for fairer and more effective private sector involvement in international governance processes. By Suzy Nikièma & Sarah Brewin.

The loss compensation clause and the protection and security clause: Two risky provisions neglected by investment treaty reform? By Abas Kinda.

An interview with Wolfgang Alschner on Investment Arbitration and State-Driven Reform: New Treaties, Old Outcomes

This interview with Wolfgang Alschner, Associate Professor at the University of Ottawa, explores his new book on investment arbitration and state-driven reform. Alschner argues that new international investment agreements are not solving the problems of their predecessors because they are being interpreted in the same way as old agreements, thereby reproducing old outcomes. His book calls for a change in course for the investment regime, where new treaties inform the reading of old treaties rather than the other way around.

Three key principles for fairer and more effective private sector involvement in international governance processes

This article examines some of the main issues related to business group participation in three major investment policy reform processes. It identifies three general principles that can help ensure private sector stakeholders can participate in international governance processes more fairly and effectively.

The loss compensation clause and the protection and security clause: Two risky provisions neglected by investment treaty reform?

This article examines two key provisions that pose costly arbitration risks for states but are often neglected in investment treaty reform processes. It aims to provide investment treaty negotiators with recommendations on how to better phrase these clauses to minimize the chances of misinterpretation in arbitral tribunals.

News  |  July 4, 2022

OECD releases model rules and technical guidance for countries to implement a global minimum tax

In December, the OECD released model Global Anti-Base Erosion Rules (GloBE) rules for countries to implement a global minimum tax and for companies to adhere to. It subsequently published detailed technical guidance on these model rules in the form of a commentary and examples.

News  |  July 4, 2022

Intergovernmental Working Group continues work to develop a draft Convention on the Right to Development

The UN Convention on the Right to Development is a multilateral framework currently being negotiated by the UN General Assembly Human Rights Council and drafted by a tasked drafting committee. It stems from the 1986 UN Declaration on the Right to Development, which establishes development as a right and puts people at the centre of the development process.

News  |  July 4, 2022

OECD Conference on Investment Treaties and Climate Change Policy

On May 10, 2022, the OECD held its seventh Annual Investment Treaty Conference on the nexus of investment treaties and climate change policy. The event took place following unprecedented warnings by the Intergovernmental Panel on Climate Change about the problematic role played by investment treaties as an obstacle to climate action.

News  |  July 4, 2022

World Investment for Development Alliance launches at the World Economic Forum Annual Meeting

The World Investment for Development Alliance (WIDA) is a global platform that aims to bring together stakeholders to identify and address investment challenges and opportunities to foster sustainable development. It focuses on facilitating coordination and cooperation between leading actors and initiatives working on investment for development.

News  |  July 4, 2022

UNCITRAL WGIII continues work on ISDS reform ahead of the 43rd formal session in September 2022

Draft code of conduct for legal decision-makers still under discussion In accordance with its work plan, UNCITRAL WGIII is continuing to make progress on ISDS reform. At its 42nd session, […]

NAFTA tribunal in Westmoreland v. Canada declines jurisdiction, finding that the claimant did not own or control the investment at the time of the alleged breach

Westmoreland Coal Company v. Government of Canada, ICSID Case No. UNCT/20/3

Bahrain found liable for indirect expropriation for putting Iranian-controlled Future Bank under administration

Bank Melli Iran and Bank Saderat Iran v. Bahrain, PCA Case No. 2017-25

Tribunal awards damages to Yukos Capital, finding that Russia expropriated its investment, while two arbitrators partially dissent on quantum

Yukos Capital SARL v. The Russian Federation, PCA Case No. 2013-31

Arbitral tribunal finds Poland not in breach of alleged FET violations in rendering its administrative services to Festorino Invest Limited & Others

Festorino Invest Limited and Others v. Republic of Poland with the participation of the European Union (non-disputing treaty party), SCC Case No. V2018/098

News  |  June 30, 2022

Key Questions Remain as Governments Announce “Agreement in Principle” for Modernized Energy Charter Treaty

After a lengthy negotiation process, Contracting Parties at the June 24 meeting of the Energy Charter Conference reached an agreement in principle to modernize the Energy Charter Treaty (ECT)—an outdated investment treaty that protects fossil fuel investors at the expense of critical climate action.

ITN  |  March 30, 2022

Resources

Complex Designers and Emergent Design: Reforming the Investment Treaty System Anthea Roberts and Taylor St John, American Journal of International Law, 116(1), 96–149. Sept 2021 Available here. Overview of Contract […]