From: CUTS International
UNCTAD Investor-State Dispute Settlement: Review of Developments in 2016
It is my pleasure to share with the latest issue of UNCTAD IIA Issues Note, which reviews recent developments in investor-State dispute settlement (ISDS).
· In 2016, investors initiated 62 ISDS cases pursuant to international investment agreements, bringing the total to 767 known arbitrations (see ISDS Navigator). The new cases were brought against 41 states, mostly by investors from developed countries.
· ISDS tribunals rendered 57 substantive decisions, 41 of which are in the public domain. Tribunals considered many issues that touch upon policy options identified in UNCTAD’s Road Map for IIA Reform and its Investment Policy Framework for Sustainable Development.
· About two-thirds of ISDS cases in 2016 were based on bilateral investment treaties, most of them dating back to the 1980s and 1990s. The wording of specific treaty provisions is a key factor in case outcomes, underlining the importance of balanced and careful treaty drafting. This not only applies to future treaties but also calls for modernising the existing stock of old-generation treaties. UNCTAD’s World Investment Report 2017, to be launched on 7 June 2017, presents and analyses the pros and cons of 10 policy options that countries can take to reform their old-generation treaties.
James X. Zhan
Director, Investment and Enterprise
Lead, World Investment Report
United Nations Conference on Trade & Development
Palais des Nations, Geneva
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