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ID:
139153
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| Summary/Abstract |
This article analyzes how International Investment Agreements (IIAs) might constrain the ability of governments to adopt climate change measures. This article will consider how climate change measures can either escape the application of IIA obligations or be justified under exceptions. First, this article considers the role of treaty structure in preserving regulatory autonomy. Then, it analyzes the role that general scope provisions can play in excluding environmental regulation from the scope of application of IIAs. Next, this article will consider how the limited incorporation of environmental exceptions into IIAs affects their interpretation and application in cases involving environmental regulation. The article then analyzes non-discrimination obligations, the minimum standard of treatment for foreign investors and obligations regarding compensation for expropriation. This analysis shows that tribunals can exclude environmental regulation from the scope of application of specific obligations as well.
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| 2 |
ID:
086427
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| Publication |
2009.
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| Summary/Abstract |
Over the past decade, a number of countries in the Asia Pacific region have concluded a new generation of FTAs that liberalise trade in goods and services while also containing investment protection provisions. This paper provides an overview of the recent trends giving special attention to the impact of Investor State Dispute Settlement (ISDS) cases which has influenced the evolution of investment rule-making over the last decade. The paper asserts that investment disputes have influenced the refinement of the provisions of the new generation of investment agreements as well as the inclusion of a series of procedural and substantive innovations in these agreements.
*Ambassador of Costa Rica to the European Union, Belgium and Luxembourg. This paper was written on the basis of several research projects in which the author participated, before assuming the current position with the Costa Rican government, as consultant with UNCTAD. However, the opinions and views expressed in this paper do not represent the position of UNCTAD, nor the Government of Costa Rica and fully fall under responsibility of the author.
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