Towards a More Comprehensive Approach in International Investment Law

Hindelang, Steffen; Krajewski, Markus

doi:10.1093/acprof:oso/9780198738428.003.0001

Cited by 3 publications

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“…Other alternatives include a World Investment Court or, as proposed by the OECD, a Multilateral Investment Court [ 74 – 76 ]. Domestic court solutions are emerging in treaties entered into by South Africa, Brazil and other countries [ 77 ].…”

Section: Discussionmentioning

confidence: 99%

International trade and investment law: a new framework for public health and the common good

Delany¹,

Signal²,

Thomson

2018

BMC Public Health

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BackgroundInternational trade and investment agreements can have positive outcomes, but also have negative consequences that affect global health and influence fundamental health determinants: poverty, inequality and the environment. This article proposes principles and strategies for designing future international law to attain health and common good objectives.ArgumentBasic principles are needed for international trade and investment agreements that are consistent with the common good, public health, and human rights. These principles should reflect the importance of reducing inequalities, along with social and environmental sustainability. Economic growth should be recognised as a means to common good objectives, rather than an end in itself. Our favoured approach is both radical and comprehensive: we describe what this approach would include and outline the strategies for its implementation, the processes and capacity building necessary for its achievement, and related governance and corporate issues.The comprehensive approach includes significant changes to current models for trade and investment agreements, in particular (i) health, social and environmental objectives would be recognised as legitimate in their own right and implemented accordingly; (ii) changes to dispute-resolution processes, both state-to-state and investor-state; (iii) greater deference to international legal frameworks for health, environmental protection, and human rights; (iv) greater coherence across the international law framework; (v) limitations on investor privileges, and (vi) enforceable corporate responsibilities for contributing to health, environmental, human rights and other common good objectives. We also identify some limited changes that could be considered as an alternative to the proposed comprehensive approach.Future research is needed to develop a range of model treaties, and on the means by which such treaties and reforms might be achieved. Such research would focus also on complementary institutional reforms relevant to the United Nations and other international agencies. Advocacy by a range of communities is needed for effective change. Reform will require informed debate, determined engagement with decision-makers and stakeholders, and some agreement across health, social and environmental sectors on alternatives.ConclusionsCurrent frameworks of international law that govern trade and economic development need radical change, in relation to treaty processes, content, and contexts, to better attain public health objectives.

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Section: Discussionmentioning

confidence: 99%

International trade and investment law: a new framework for public health and the common good

Delany¹,

Signal²,

Thomson

2018

BMC Public Health

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“…Whether or not the constitutionalisation of international law in general and international investment law in particular has already taken place remains subject to debate. However, the fact that international investment law lacks constitutional density does not mean that it cannot acquire this trait in the future through treaty making 118 via the inclusion of non-economic considerations in the preambles and text of international investment agreements. 119 Non-economic concerns are already within the grasp of arbitrators de lege lata (even without de lege ferenda improvements)-provided that arbitrators are willing to apply the VCLT to the full extent.…”

Section: Are Arbitral Tribunals Global Constitutional Courts?mentioning

confidence: 99%

Inter-civilizational approaches to investor-state dispute settlement: Global constitutional adjudication or international adjudication?

Vadi¹

2022

International Investment Protection and Constitutional Law

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Can investment treaty arbitral tribunals be considered to be global constitutional courts? This chapter aims to address this question and proceeds as follows: After briefly describing the main features of investor-state arbitration and the key challenges it is facing, the chapter investigates whether arbitral tribunals are or can be analogised to global constitutional courts. It then examines the interplay between arbitral tribunals and domestic courts. The chapter concludes that public law thinking can offer useful conceptual tools for reflecting on investor-state arbitration and that the interaction between constitutional courts and arbitral tribunals can be a fertile one. However, investor-state arbitration should not be considered as a form of global constitutional adjudication.

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“…This is a sufficient limitation to investor's right because the change in environmental policy has been considered as a violation of FET obligation in connection with investor's legitimate expectation in dispute resolution practice. 30 Along with above-mentioned suggestion, an Investment Tribunal System (ITS), as an important part of investment protection, is another significant innovation suggested by the EU with its partners including the Transatlantic Trade Investment Partnership (TTIP) 31 the free trade agreement with Canada (Comprehensive Economic and Trade Agreement-CETA), 32 Mexico, 33 Singapore, and Vietnam. Although ITS is beyond the scope of this paper, examining characteristics of this system may help understand how this innovation supports the promotion of right to regulate under investment agreement.…”

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confidence: 99%

The Inclusion of Sustainable Development into New-Generation FTAS – What Can be Expected in Reserving Nations’ Rights to Regulate?

Hương

2022

Vietnamese Journal of Legal Sciences

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The last decade has seen a growing trend towards the combination of sustainability, in which environmental protection is the most important, with trade in both regional and international forums. Indeed, the term “sustainable development”, which rarely appeared in “traditional” trade or investment agreements, is easy to be found in many new-generation agreements such as CP-TPP or a series of FTAs recently signed by the EU with its partners such as Canada, Singapore and Vietnam. It has been observed that the interaction between sustainable development and trade-investment, especially via dispute settlement activities, has been intensively studied. However, as the combination of sustainability in FTA has just been promoted recently with the aim to tackle the abovementioned issue. The provisions on sustainable and environmental protection are included in the new generation FTA, i.e. CP-TPP, EU-Canada Comprehensive Economic and Trade Agreement, EU-Singapore FTA and EU-Vietnam’s FTA. These sustainability-support regulations help to confirm the right of the hosting state to set its own levels of domestic protection in the environmental and social areas as well as to build and follow its own environmental policies. However, these provisions are still general compared to the set of trade-investment rules/obligations under the trade-investment agreements. The aim of this paper is to find out the meaning and status of the sustainability-support regulations under trade-investment agreements. It examines these provisions in light of maintaining countries’ right to protect the environment under abovementioned preferential trade-investment agreements in order to critically evaluate the effect of these rules on future measures of relevant countries to protect the environment.

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Towards a More Comprehensive Approach in International Investment Law

Cited by 3 publications

References 0 publications

International trade and investment law: a new framework for public health and the common good

International trade and investment law: a new framework for public health and the common good

Inter-civilizational approaches to investor-state dispute settlement: Global constitutional adjudication or international adjudication?

The Inclusion of Sustainable Development into New-Generation FTAS – What Can be Expected in Reserving Nations’ Rights to Regulate?

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