Bloc of countries refuses to discuss transparency in investor-state arbitrations
A Working Group of the United Nations charged with revising key international arbitration rules has rebuffed calls by many states and non-governmental organizations to discuss introducing transparency requirements into arbitrations brought by private foreign investors against states.
Many governments, particularly developing and other countries facing investor claims, spoke strongly in favor of transparency and expressed their desire that the issue be addressed immediately. But a number of governments, including governments that proclaim to be "strong supporters" of transparency, spoke against including transparency in the current revision process.
IISD and Center for International Environmental Law (CIEL) have issued a joint press release
(PDF - 59 kb), as well as a joint paper (PDF - 227 kb) showing how the UNCITRAL Rules can be simply amended to address the needs of investor-state arbitrations.
About IISD
The International Institute for Sustainable Development (IISD) is an award-winning independent think tank working to accelerate solutions for a stable climate, sustainable resource management, and fair economies. Our work inspires better decisions and sparks meaningful action to help people and the planet thrive. We shine a light on what can be achieved when governments, businesses, non-profits, and communities come together. IISD’s staff of more than 250 experts come from across the globe and from many disciplines. With offices in Winnipeg, Geneva, Ottawa, and Toronto, our work affects lives in nearly 100 countries.
You might also be interested in
What Drives Investment Policy-makers in Developing Countries to Use Tax Incentives?
The article explores the reasons behind the use of tax incentives in developing countries to attract investment, examining the pressures, challenges, and alternative strategies that exist.
What Is the NAP Assessment at COP 29, and Why Does It Matter?
At the 29th UN Climate Change Conference (COP 29) in Baku, countries will assess their progress in formulating and implementing their National Adaptation Plans. IISD’s adaptation experts Orville Grey and Jeffrey Qi explain what that means, and what’s at stake.
How to Track Adaptation Progress: Key questions for the UAE-Belém work programme at COP 29
UAE-Belem work program at COP 29: Emilie Beauchamp explains the complexity behind these talks and unpacks seven key questions that negotiating countries should address along the way.
COP 29 Must Deliver on Last Year’s Historic Energy Transition Pact
At COP 29 in Baku, countries must build on what was achieved at COP 28 and clarify what tripling renewables and transitioning away from fossil fuels means in practice.