The future of investment treaties - possible directions

David Gaukrodger
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David Gaukrodger: OECD

No 2021/03, OECD Working Papers on International Investment from OECD Publishing

Abstract: As our societies face new challenges and make new demands from policies addressing international investment, there is a new urgency to profoundly reconsider treaties addressing investment. This paper was prepared originally as background for initial inter-governmental and public discussions at the OECD about future investment treaties as well as possible alternatives. The paper surveys potential roles for treaties addressing investment in (i) contributing to sustainable development and responsible business conduct; (ii) preserving and improving investment market access and liberalisation of investment, and facilitating FDI; (iii) regulating subsidised state-owned enterprises, competition in subsidies for investment, and digitalisation; and (iv) addressing the interests of treaty-covered and other investors in reasonable legal predictability and a level playing field, together with the need for policy space and public support for treaty policy. It considers potential use of more flexible and varied remedies and implementation mechanisms. A final section briefly considers treaty policies as governments and societies confront the urgent challenge of climate change.

Keywords: environmental law; human rights; labour law; responsible business conduct; sustainable development (search for similar items in EconPapers)
JEL-codes: F13 F18 F21 F23 F53 F60 K23 K32 K33 K40 (search for similar items in EconPapers)
Date: 2021-06-28
New Economics Papers: this item is included in nep-cwa, nep-env, nep-int and nep-law
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:oec:dafaaa:2021/03-en

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