Sustainability Challenges in Construction Contracts as a Regular Issue of International Investments

Andrada-Laura Tarmigan ()
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Andrada-Laura Tarmigan: Doctoral School of Law, Bucharest University of Economic Studies

International Investment Law Journal, 2023, vol. 3, issue 1, 41-48

Abstract: This paper aims at providing an overview of the current practices, opportunities and problems concerning sustainability in construction contracts, by using literature review and the comparative methods. We will also identify the EU legal provisions and the main types of standard construction contracts that include sustainability provisions (FIDIC, JCT, NEC, G.D. no. 1/2018). The purpose is to determine how parties can use contractual provisions to reduce carbon footprint in their projects and to identify the possible risks and dispute grounds associated with such an approach. The parties can negotiate sustainability provisions and it is recommendable for the contractor to propose certain measures for meeting environmental objectives.The EU‘s new legislative project in this area of expertise, the Corporate Sustainability Reporting Directive, aims to make companies more accountable and transparent about the environmental impact of their business approach. In the end, we will show that considering sustainability will actually create opportunities for investors, companies and society in general and will decrease costs on a medium-long term. There is a growing awareness of the negative financial implications of conducting business “as usual” meaning in a non-sustainable manner

Keywords: sustainability; construction; international investments; contracts; due diligence. (search for similar items in EconPapers)
JEL-codes: F21 K14 K33 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:sja:journ1:v:3:y:2023:i:1:p:41-48

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