International Investment Law and Climate Change: Introduction to the Special Issue

Maljean-Dubois, Sandrine; Fabri, Hélène Ruiz; Schill, Stephan W.

doi:10.1163/22119000-12340268

Cited by 4 publications

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“…Climate change will require state measures and regulations to move from a brown to a green economy across all sectors of the economy. The reduction of fossil fuel consumption and production, along with significant investments in renewable energy and other technologies designed to mitigate carbon emissions, are some of the measures that will contribute to this [16]. The host country may alter previous investment contracts and modify domestic laws and policies in order to fulfill its international climate change governance obligations, and this may negatively affect the expected interests of investors in the traditional energy sector.…”

Section: Overview Of Investment Arbitration Practice In Relation To C...mentioning

confidence: 99%

Addressing Climate Change through International Investment Agreements: Obstacles and Reform Options

Zhang,

2024

Sustainability

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The current international investment treaty network is not well suited to climate goals. The tension stems from the fact that “old generation” of international investment agreements were concluded before the widespread climate action and they were “climate neutral” or “climate blind”. This study explores the obstacles for international investment agreements and investment arbitration to tackle climate change issues, indicating the need for reform. Despite the fact that some states have begun to reform their international investment agreements in light of climate change, there are still many shortcomings to be addressed. The current international investment agreement regime should be reformed to incorporate climate change considerations for investment arbitration to contribute to climate change mitigation. According to the findings, updating investment treaties based on a climate-oriented model would be a viable option for states.

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Section: Overview Of Investment Arbitration Practice In Relation To C...mentioning

confidence: 99%

Addressing Climate Change through International Investment Agreements: Obstacles and Reform Options

Zhang,

2024

Sustainability

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“…Boute 2009;Firger and Gerrard 2011;Asteriti 2015;Vadi 2015;Emmert and Esenkulova 2019;Vu 2019;Khachvani 2020;Thieffry 2021). As Maljean-Dubois et al (2022) note, scholars adopting this perspective highlight the potential of iias and their disputesettlement mechanisms to positively contribute to addressing climate change and argue that they can establish predictable and stable legal frameworks, reduce political risks, and encourage investment in climate-friendly technology and energy production (Gentry and Ronk 2007;Sussman 2008;Boute 2009;Vasani and Allen 2020). These scholars do, however, also recognize the importance of preventing any negative effects of iias on the regulation of greenhouse-gas-emitting industries (Tropper and Wagner 2022).…”

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confidence: 99%

“…Zhu 2018;Tienhaara 2018;Asgharian 2020;Tienhaara et al 2022;Akinkugbe and Majekolagbe 2023;Cotula 2023;Rodrĩguez 2023). Again, as Maljean-Dubois et al (2022) note, these works raise concerns that commitments made under iias impede effective regulation of the brown economy. The impediment occurs in two ways: by obliging states to compensate foreign investors for climate-related regulatory changes; and by discouraging states from implementing necessary regulations due to fears of investment claims and compensation payments -i.e.…”

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Taking Stock of the Scholarship on the Relationship between International Investment Law and the Need for Raised Climate Ambition

Hall,

Koen

2024

Clim. Law

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Increasingly dire warnings about the climate crisis mean that it is more urgent than ever that different legal regimes, including international investment law, are aligned with climate objectives and not implemented in discord with climate solutions. Many works have been produced over the last twenty years which examine whether the norms underlying climate law and international investment law necessarily conflict or can be reconciled. These works reflect deeply contested views amongst scholars as to whether regulation aimed at ensuring climate ambition can, or is likely to, be adequately safeguarded by the international investment law regime that is designed to provide conditions of stability for investors – including those that are large greenhouse gas emitters. This article provides an overview of the different perspectives that have been offered on the relationship between climate change law and international investment law in respect of three role-players – namely, arbitrators, civil society, and states. It concludes by offering tentative thoughts on the course that the interaction between the two regimes may take in the future.

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Energy Security, Energy Transition, and Foreign Investments: An Evolving Complex Relationship

Mauro

2024

Laws

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Energy has historically enticed significant interest from foreign investors. Simultaneously, it has perpetually held a pivotal position in any nation’s framework. Consequently, governments have long regarded energy security as a paramount concern, crucial for ensuring national stability. Energy security, simply put, is defined as “the availability of sufficient supplies at affordable prices”. However, a more contemporary perspective also emphasizes the necessity for long-term sustainability in the supply. This perspective adds a new foundational element—sustainability—to the concept of energy security. Stemming from this premise, two phenomena in the energy sector emerge that could impact international foreign direct investment (FDI) flows. Firstly, the transition from hydrocarbons to renewable sources necessitates substantial investment, wherein foreign investments could play a pivotal role. Secondly, there is an increasing trend of States utilizing FDI for strategic objectives. The acquisition of strategic energy infrastructure by foreign entities is now perceived as a risk to the energy supply security of nations. Consequently, several States have bolstered their FDI screening mechanisms to assess potential impacts on supply security, infrastructure operation, and national security in general. These two aforementioned phenomena may sometimes conflict. This article aims to analyze the intricate relationship between energy security, energy transition, and foreign investments. The author posits that an overly broad interpretation of national security and the misuse of screening mechanisms could serve as instruments for shielding the domestic economy, potentially undermining the foreign investment legal framework. Such an approach in the energy sector could have a “chilling effect,” leading to a reduction in FDI and impeding the energy transition or the attainment of other energy-related objectives. At the same time, a deep reform of the international investment regime is required, which should go through a modification of International Investment Agreements (IIAs) clauses but also through a more environmentally friendly approach by investment arbitration tribunals. It appears extremely difficult to find a balance between international investment law and environmental/climate change law. In this context, the Energy Charter Treaty (ECT), which has recently undergone a “modernization process”, is assumed to be a test bench.

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International Investment Law and Climate Change: Introduction to the Special Issue

Cited by 4 publications

References 0 publications

Addressing Climate Change through International Investment Agreements: Obstacles and Reform Options

Addressing Climate Change through International Investment Agreements: Obstacles and Reform Options

Taking Stock of the Scholarship on the Relationship between International Investment Law and the Need for Raised Climate Ambition

Energy Security, Energy Transition, and Foreign Investments: An Evolving Complex Relationship

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