Procedural Innovations Related to Sustainable Development

2021 ◽  
pp. 248-264
Author(s):  
Marie-Claire Cordonier Segger
Keyword(s):  
Sustainable Development ◽  
Social Development ◽  
Public Participation ◽  
Policy Making ◽  
Dispute Settlement ◽  
Investment Policy ◽  
Participation Mechanisms ◽  
Investment Agreements ◽  
Trade And Investment ◽  
The Way

Research undertaken for the volume found that changes in the way that trade and investment agreements are negotiated, as well as sustainable development-related innovations contained in the procedural rules of the trade and investment treaties, from an interactional view, have implications for the way the treaty texts integrate for sustainable development. This chapter discusses four procedural innovations which are being used by Parties to identify potential environmental and sustainability impacts, and to consider innovative measures for inclusion in their trade and investment agreements. First, it considers impact assessments of trade and investment liberalization policies and draft treaties, focusing on the origins and scope of impact assessment processes, their mandates and methodologies, their role in integrating social and environmental issues into economic trade policy and how they could be improved. Second, it considers consultations between economic, environmental and social development authorities as a mechanism to secure more integrated and coherent trade and investment policy-making. Third, the chapter discusses transparency and public participation mechanisms, in agreement negotiations and the agreements themselves. Finally, it explores innovative dispute settlement provisions.

International Legal Reasons for Countries to Address Environmental and Social Impacts of Trade and Investment Agreements

2021 ◽  
pp. 77-88
Author(s):  
Marie-Claire Cordonier Segger
Keyword(s):  
Sustainable Development ◽  
Economic Development ◽  
Social Development ◽  
Legal Status ◽  
Investment Policy ◽  
Scholarly Literature ◽  
Development Plans ◽  
Development Goals ◽  
Investment Agreements ◽  
Trade And Investment

This chapter considers whether States are legally bound to address the sustainability impacts of trade and investment liberalization—at least to prevent harm, and potentially also to actually integrate environmental and social development considerations in order to strengthen and enhance the contribution of increased trade and investment flows towards achieving countries’ Sustainable Development Goals (SDGs). To this end, it considers scholarly literature on the legal status of States’ commitments to sustainable development. It also discusses customary and interstitial norms, and whether international law requires States to integrate significant environmental and social considerations into economic development plans, including into the negotiations of new trade and investment agreements, noting the relevance of the maxim pacta sunct servanda. In particular, the chapter considers the relevance of the customary principle of integration to trade and investment policy, and how this principle might influence the interpretation of trade and investment agreements.

G20 Guiding Principles for Global Investment Policy-making

2019 ◽  
pp. 329-344 ◽  
Author(s):  
Anna Joubin-Bret ◽  
Cristian Rodriguez Chiffelle
Keyword(s):  
Economic Growth ◽  
Policy Making ◽  
International Investment ◽  
Investment Policy ◽  
Guiding Principles ◽  
Heads Of State ◽  
Sustainable Trade ◽  
First Time ◽  
Trade And Investment ◽  
The Way

One of the most important and concrete outcomes of China’s G20 presidency was the establishment of a Trade and Investment Working Group (TIWG), recognizing that robust and sustainable trade and investment reinforces economic growth and calling for enhanced G20 trade and investment cooperation. The Chinese presidency’s renewed approach was not only to bring stand-alone investment issues to the G20 table, but also to re-spark the conversation on investment and trade policy-making by bringing them closer together again, acknowledging the complementarity of trade and investment as the engines of economic growth. This has paved the way for coherent, integrated discussions on trade and investment for the first time in fifteen years in the global political arena. On the investment side, the TIWG delivered the G20 Guiding Principles for Global Investment Policy-Making (G20 Guiding Principles), a key outcome of the Chinese presidency. These were endorsed by trade ministers in Shanghai in July 2016 and then by heads of state at the Hangzhou Summit in September 2016, with the objective of fostering an open, transparent, and conducive global policy environment for investment; promoting coherence in national and international investment policy-making; and promoting inclusive economic growth and sustainable development. The G20 Guiding Principles are introduced in the chapter. It begins with a background review of their crafting and various attempts at devising guiding principles on international investment, and identifies some of the guidelines that have paved the way for the Principles. The chapter then focuses on the objectives, scope, and content of the G20 Guiding Principles and considers their potential impact on policy-making at the domestic and international levels. Finally, the chapter addresses the broader work of the G20 TIWG, including the trade and investment linkage, analyses the general state of play of G20 countries’ investment agreements, and offers some preliminary conclusions and ways forward.

Integrating Social and Environmental Considerations into Trade and Investment Agreements, for Sustainable Development

2021 ◽  
pp. 313-323
Author(s):  
Marie-Claire Cordonier Segger
Keyword(s):  
Sustainable Development ◽  
Social Development ◽  
World Trade ◽  
Trade Law ◽  
Law And Policy ◽  
Investment Law ◽  
Environmental Considerations ◽  
Investment Agreements ◽  
Trade And Investment ◽  
Procedural Aspect

This chapter summarizes the findings of the research and draws together the explanations of these findings explored throughout the volume. Key findings include; the observation that States are adopting sustainable development as part of the ‘object and purpose’ of trade law, both in the World Trade Organization (WTO) and in many regional trade agreements (RTAs); the observation that States are also adopting innovative operational provisions to prevent trade and investment law from constraining legitimate new environment and social development measures and the enhancement of trade and investment in more sustainable sectors; as well as the observation that that there is an important procedural aspect to the integration of environmental and social development concerns in trade and investment law and policy. Drawing on these findings, the chapter summarizes opportunities for States to address key tensions between trade, environmental and social development regulations through the adoption of integration measures for sustainable development in the treaties, and three steps that States can take towards meaningful integration.

Trade and Investment Accords for Sustainable Development Goals 1–5

2021 ◽  
pp. 267-276
Author(s):  
Marie-Claire Cordonier Segger
Keyword(s):  
Sustainable Development ◽  
Gender Equality ◽  
Sustainable Development Goals ◽  
Quality Education ◽  
Economic Recovery ◽  
The Sustainable Development ◽  
Health And Wellbeing ◽  
Development Goals ◽  
Investment Agreements ◽  
Trade And Investment

The Sustainable Development Goals (SDGs) set aspirational objectives for governments, international organizations and other stakeholders seeking to support sustainable development to achieve by 2030 or before, as well as indicators to facilitate measurement of attainment levels. Chapter 19 is the first of three chapters exploring provisions from over 110 innovative bilateral and regional economic treaties that could facilitate achievement of certain SDGs and their associated targets, to enable countries to maximize opportunities for their economic accords to assist in effectively contributing towards achievement of the SDG targets, particularly in a time of post-pandemic economic recovery. This chapter addresses trade and investment agreements provisions relevant to a first set of SDGs which target ‘basic needs’ challenges: eradicating poverty (SDG 1); ending hunger (SDG 2); promoting health and wellbeing (SDG 3); ensuring quality education (SDG 4) and achieving gender equality (SDG 5). The chapter canvasses the requirements of each goal and provides examples of treaty provisions that address each SDG.

Trade and Investment Accords for Sustainable Development Goals 12–17

2021 ◽  
pp. 293-310
Author(s):  
Marie-Claire Cordonier Segger
Keyword(s):  
Climate Change ◽  
Sustainable Development ◽  
Human Rights ◽  
Sustainable Use ◽  
Terrestrial Ecosystems ◽  
Effective Governance ◽  
Responsible Consumption ◽  
Development Goals ◽  
Investment Agreements ◽  
Trade And Investment

Chapter 21 focuses on how trade and investment agreements may contribute to international efforts to achieve SDGs 12 to 17, which address responsible consumption and production patterns (SDG 12), combatting climate change (SDG 13), conservation and sustainable use of marine resources (SDG 14), and sustainable use of terrestrial ecosystems (SDG 15). SDG 16, which calls for peace, justice and strong institutions for sustainable development, is also canvassed in its links to securing stability, effective governance and human rights. Finally, SDG 17, which calls on all countries to build partnerships towards achieving sustainable development, is discussed as the foundation of all the SDGs in the concluding note to this chapter, particularly given its explicit provisions on economic cooperation, trade, investment and finance.

The Role of the Court of Justice of the European Union in the Emerging EU Investment Policy

2014 ◽  
Vol 15 (3-4) ◽  
pp. 570-584 ◽  
Author(s):  
Christoph Herrmann
Keyword(s):  
European Union ◽  
Direct Investment ◽  
Investment Policy ◽  
The European Union ◽  
Policy Documents ◽  
Court Of Justice ◽  
Legal Questions ◽  
Investment Agreements ◽  
Trade And Investment

The transfer of an exclusive competence for “foreign direct investment” to the European Union (eu) in the Lisbon Treaty (2009) has raised numerous legal questions and has tasked the eu institutions with developing a policy field almost entirely new to them. One of the matters that requires thorough consideration is the role the Court of Justice of the European Union (cjeu) will enjoy with regard to this new policy, which role it may be given in investment agreements of the eu or to what extent its role may legally be excluded or diminished by iias. The policy documents published so far as well as leaked text of envisaged investment chapters of future eu trade and investment agreements disregard this matter entirely. Nevertheless, the cjeu will play a role on the basis of the provisions of the eu Treaties and it is largely for the Court itself to determine that role.

Investment Law and Poverty: Continuing the Debate through UNCTAD’s Investment Policy Framework for Sustainable Development

2014 ◽  
Vol 15 (5-6) ◽  
pp. 889-907
Author(s):  
Faraz Rojid ◽  
Maria del Carmen Vasquez
Keyword(s):  
Sustainable Development ◽  
Dispute Settlement ◽  
International Investment ◽  
Investment Policy ◽  
Policy Framework ◽  
Policy Makers ◽  
Investment Policies ◽  
Policy Tool ◽  
International Investment Agreements ◽  
New Generation

The Investment Policy Framework for Sustainable Development (ipfsd) was formulated by unctad, among others, as a response to the challenges that least-developed and developing countries face today – because of their obligations under international investment agreements (iias) – when trying to implement development or poverty alleviation policies. By looking at selected investor-state dispute settlement cases brought against Argentina, Bolivia and South Africa in response to poverty-related regulatory measures, this paper analyses the interpretation of iia clauses by arbitral tribunals, and familiarizes the reader with the policy options provided by the ipfsd. The ipfsd recommends a “new generation” of investment policies that places inclusive growth and sustainable development at the heart of efforts to attract and benefit from foreign direct investment. The ipfsd does not explicitly focus on poverty eradication; however, its comprehensive approach to sustainable development makes of it a policy tool-kit with great potential for policy makers.

Africa and the Rethinking of International Investment Law

2018 ◽  
Author(s):  
Makane Moïse Mbengue ◽  
Stefanie Schacherer
Keyword(s):  
Sustainable Development ◽  
International Law ◽  
Dispute Settlement ◽  
International Investment ◽  
Reform Process ◽  
International Investment Law ◽  
Pan African ◽  
International Investment Agreements ◽  
Investment Law ◽  
Investment Agreements

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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