Unsustainable Investment: Scoping Expropriation without Compensation
Pascale Accaoui Lorfing ()
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Pascale Accaoui Lorfing: University of Burgundy
Chapter Chapter 6 in The European Union and the Evolving Architectures of International Economic Agreements, 2023, pp 95-108 from Springer
Abstract:
Abstract The regulatory measures that States takes in areas of public interest may have an impact on the rights of foreign investors, which are protected by international investment agreements (‘IIAs’) from expropriation and unfair and inequitable treatment. Provisions establishing the State right to regulate without compensation vis-a-vis foreign investors have been inserted into IIAs, particularly post-2010. They aim to recalibrate the conflicting interests of the State with investors’ rights. Often drafted generally (with general and security exceptions), such provisions are becoming more and more specific to certain areas, including corporate social responsibility, the environment, and most recently even climate change. In the light of sustainability, the conditions of the implementation of the right to regulate and the limits encountered in its interpretation by arbitrators reveal the importance of a better drafting of relevant provisions, reflecting the scope that the parties wish to give to such clauses.
Keywords: Right to regulate; Expropriation; Compensation exceptions; Arbitration (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-99-2329-8_6
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DOI: 10.1007/978-981-99-2329-8_6
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