EU member state investment treaties have been criticized for potentially deterring EU countries from pursuing desirable policy measures. This paper explores whether these treaties can nonetheless serve a beneficial geoeconomic function for the EU by safeguarding EU investments in five minerals...

With investments in outer space growing exponentially and with more states seeking to develop domestic space capabilities, states should be aware of their rights and obligations under international space law and of the potential applicability of investment protection obligations to space...

Protecting biodiversity will require the phase-out of harmful production at a large scale. However, some of these stranded investments will be foreign-owned, and can therefore be protected by the more than 2,600 investment treaties that are in force worldwide. These treaties' compensation...

The Sustainable Development Goals (SDGs) were established to end extreme poverty, tackle inequality and injustice and safeguard against climate change. This Perspective proposes three ways in which future BITs could be redesigned to ensure respect for SDGs and help minimize any negative impact...

This paper summarizes the discussions within the United Nations Commission on International Trade Law (UNCITRAL) Working Group III (WG III) on the reform of investor-state dispute settlement (ISDS) regarding the two draft provisions on damages prepared by the UNCITRAL Secretariat as part of the...

Brazil, after signing several traditional Bilateral Investment Treaties without ratifying them, recently shifted towards a different type of bilateral investment agreement, i.e., Investment Cooperation and Facilitation Agreements. Two claims have been made in the literature regarding the...

The global investment regime stands at a crossroads. From the late 1980s onwards, its predominant, if not exclusive focus on economic growth has been increasingly shifting towards sustainable development. The delicate balance between these considerations is reflected in bilateral or multilateral...

Over the past decade, the global adoption of Foreign Direct Investment (FDI) screening mechanisms (ISMs) has surged, reflecting developed countries' policies aiming at restricting FDI on the grounds of broadly defined 'security' or 'national' interests. Recent geopolitical and economic crises...

We analyze the effect of bilateral investment treaties (BITs) on bilateral foreign portfolio investment in equity and debt securities. We find that expropriation risk and the level of a BIT’s investor protection are complementary. Applying a Poisson Pseudo-Maximum-Likelihood model to a panel...

Although the finance literature has devoted a lot of research into the development of advanced models for improving the pricing and hedging performance, there has been much less emphasis on approaches to measure dynamic hedging effectiveness. This article discusses a statistical framework based...

This contribution focuses on three aspects of interpretation of investment treaties in which the time element plays an important role. First, it deals with the possibility that a term used in a treaty is capable of evolving over time and its role in investment law. Second, it deals with...

This article argues that legal certainty provides the most compelling justification for recognizing legitimate expectations in international investment law, and that the prohibition on arbitrary conduct provides the most persuasive reason for their protection. After considering other rationales...

The Framework Convention of Tobacco Control (hereinafter “FCTC”) is the first treaty aiming to combat the tobacco epidemic under the auspices of the World Health Organization (WHO). This multilateral convention seeks to pursue the highest public health protection standards and good global...

Sustainable development in the fields of human rights and environment has been in the works for decades since its introduction by the Brundtland Commission Report in 1987. While the World Trade Organization has taken to incentivizing sustainable development, international investment law and...

Observers of the international investment law (IIL) system regularly complain about the system’s lack of transparency and accountability. Major reform efforts, both past and present, inevitably turn to “more transparency” as a solution to the system’s problems. But what does transparency...

The United Nations Commission on International Trade Law is discussing the establishment of an Advisory Centre on International Investment Law, to assist under-resourced developing countries in issues related to international investment law. This Note focusses on three important issues central...

The economic shocks from the pandemic and rising geoeconomic tensions have triggered an accelerated restructuring of foreign investment flows in global value chains. As the previous determinants of foreign investment are rapidly changing, many new risks and opportunities abound for developing...

This paper reviews the relationship between international investment agreements (IIAs) and foreign direct investment (FDI). It is organised in two parts. The first part explores the generic structure of IIAs and highlights the components that are particularly relevant to FDI. It then gives an...

Consisting of well over three thousand treaties and seventy thousand legal provisions, international investment law (IIL) constitutes a complex and often impenetrable field for research. While each treaty stands legally on its own, the juridical and historical interlinkages between them are...

FET claims are brought more frequently against economically less well-off States and how the value of the claims poses a challenge to their economies. While reasonable, minds can differ as to the cause of this phenomenon, that is, whether this is due to any particular targeting of the developing...

This article explores the involvement of non-governmental organizations (NGOs) in investor-state arbitration, with a specific focus on their growing recognition as amici curiae, or friends of the court. This paper discusses the significance of NGO arguments in addressing failed water...

Foreign investment is the backbone of Maldives economy. However, the proliferation of investment arbitration against the Maldives may deeply hamper its investment regime. Since Maldives Foreign Investment Law does not refers to any preferred mode of dispute settlement, every investment agreement...

This Perspective probes the complexities of umbrella clauses in international investment agreements, spotlighting their inherent legal ambiguities and potential for misuse. It advocates for careful negotiation and refinement of these clauses or, alternatively, their elimination to ensure...

Foreign investors' fear of expropriation led to the emergence of the idea of new ways of protection and adequate treatment of foreign investments on the international level. Primarily, the home countries wanted to protect their interests and became the main proponents of the creation of...

Purpose - This theme will be addressed through main points: Special Nature of Investment Disputes and its methods of peaceful settlement. International legal framework governing Arbitration in investment disputes: A. Multilateral legal framework. B. Bilateral legal framework/Investment promotion...

Halting the ongoing global loss of biodiversity will require extensive phase-out of harmful production. A significant share of the affected production will be foreign-owned, and can therefore potentially be covered by investment treaties. These treaties are sometimes alleged to dissuade host...

Economic globalization, the liberalization of markets, and the opening of once closed societies have all heralded the remarkable emergence of the current system of investment treaty arbitration. The current system, however, has attracted significant criticism and calls for reform. This thesis...