scholarly journals Consequences of crisis and the great re-think: COVID-19’s impact on energy investment, sustainability and the future of international investment agreements

Author(s):  
Kabir Duggal ◽  
Rekha Rangachari ◽  
Kanika Gupta

Abstract The COVID-19 pandemic and its resulting disruptions are having a significant impact on the global economy and international investments. Various State measures to address the pandemic are leading to widespread economic disruptions across several industries, including the energy sector. The current crisis has impacted energy demand, disrupted the global supply chain and created financial uncertainty. The pandemic has exacerbated issues relating to health, the environment, labour and human rights in the energy sector. This article seeks to understand the pandemic’s impact in shaping future human rights policy in international investment law. This article analyses current drafting trends in international investment agreements (IIAs) in 2019–2020, particularly in the context of recent developments in sustainable development and human rights. Although there are some noteworthy developments in recent IIAs, the pandemic has highlighted the need for further treaty reforms. It provides an opportunity for policymakers and corporations alike to address human rights issues and to incorporate the principles of sustainable investment into IIAs. The energy sector in particular plays a significant role in promoting sustainable development and post-COVID policy reforms will be essential for future energy security and global stability. In conclusion, this article considers the future of potential reforms in the post-COVID recovery agenda while keeping in mind energy and climate goals.

Author(s):  
Leyda Sughei Castillo

Este artículo estudia las relaciones entre DH, soft law e instrumentos de Inversión extranjera, así como entre DH y arbitrajes de inversión. El artículo comprende dos escenarios. Bajo el primero, abordo el impacto sobre las ETN de la incorporación del soft law en los AII. Bajo el segundo, el artículo refleja que el recurso indirecto por parte de los estados y el inversor a un lenguaje de los DH en los arbitrajes de inversión, puede tener un doble propósito: por un lado, empodera a los inversores extranjeros haciendo más visible su situación de debilidad frente al estado. Del otro, la remisión hecha por los estados propone un cambio en la lógica de los arbitrajes de inversión: el carácter proteccionista de los TBIs se ve cuestionado por la protección a intereses públicos protegidos por los estados, como los derechos de las minorías.


2019 ◽  
Vol 68 (3) ◽  
pp. 761-770 ◽  
Author(s):  
Niccolò Zugliani

AbstractThe 2016 Morocco–Nigeria bilateral investment treaty (BIT) stands out from other such treaties because of its innovative human rights approach to the protection and promotion of foreign direct investment. Human rights permeate its approach to the regulation of investment in a manner which is most unusual in international investment agreements (IIAs). As a result, this is the most socially-responsible BIT currently concluded. Although it remains exceptional within the investment-treaty framework, the treaty reflects African initiatives to ensure that the next generation of BITs encourages more responsible investments. As such, it shows that human rights-compliant investment treaties can find fertile ground in developing African countries and it sets an example for current and future negotiations aimed at fostering respect for human rights in investment activities.


Author(s):  
Makane Moïse Mbengue ◽  
Stefanie Schacherer

This chapter seeks to present and to contextualize the Pan-African Investment Code (PAIC) by taking a comparative international law approach. Such approach allows us to assess whether the PAIC is an Africa-specific instrument and whether it is unique today in how it incorporates sustainable development concerns. This is particularly interesting for the ongoing global reform process of international investment law. The chapter is divided into five main sections. Section II provides an overview of international investment agreements concluded by African States. Section III presents the origins of the PAIC. Section IV addresses the important question as to what extent the PAIC incorporates traditional investment standards or breaks with them. Section V explores the most innovative aspects of the PAIC. Section VI examines the PAIC and dispute settlement.


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