UNIDROIT-ICC Working Group on Investment Contracts holds another session
The 4th Session of the UNIDROIT-ICC Working Group on International Investment Contracts took place in October in Rome.
News
IGF Annual General Meeting discusses critical minerals
The 20th Annual General Meeting of the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF) convened in Geneva on November, 18-20, 2024, with a focus on balancing the surging demand for critical minerals with environmental protection and community well-being.
A pioneering ACCTS signed
The Agreement on Climate Change, Trade, and Sustainability (ACCTS) was signed on November 15, 2024.
The European Economic and Social Committee calls on the EU to negotiate an “inter se” agreement with third states to neutralize the sunset clause of the ECT
In a recent opinion, the European Economic and Social Committee (EESC) has called for the EU to negotiate an ‘inter se’ agreement with the UK and other third states to neutralize the sunset clause of the Energy Charter Treaty (ECT).
Modernised ECT adopted by the ECT Conference
On December 3, 2024, the Energy Charter Conference adopted and approved the decisions on the modernisation of the Energy Charter Treaty (ECT) at the Statutory Session of its 35th Meeting.
UN Trade & Development High-level IIA Conference took place in December
Experts and policy-makers convened at a recent conference to discuss the crucial need to integrate sustainable development into international investment agreements (IIAs).
EU-Angola SIFA comes into force
The European Union (EU)-Angola Sustainable Investment Facilitation Agreement (SIFA) enters into force on September 1, 2024.
UNCTAD Multistakeholder platform holds its second meeting
The second meeting of the UN Trade and Development (UNCTAD) Multistakeholder Platform on IIA Reform took place in September 2024.
WTO Public Forum takes place in Geneva
On September 10-13, 2024, the World Trade Organization (WTO) Public Forum took place in Geneva.
UNCITRAL Working Group meets again to discuss a set of reform proposals
The 49th session of United Nations Commission on International Trade Law (UNCITRAL) Working Group III on investor-state dispute settlement (ISDS) Reform took place on September 23-27, 2024, in Vienna.
European Commission challenges Hungary regarding its approach to intra-EU arbitrations under the Energy Charter Treaty
According to a press release, the European Commission (EC) decided to open an infringement procedure against Hungary, “for undermining the Union’s position on the international stage with regard to the prohibition of intra-EU investor-State arbitrations related to the Energy Charter Treaty (ECT), and for contradicting the case law of the Court of Justice of the European Union.”
The EU, Euratom, and Member States deny benefits to Russian and Belarussian investors under the ECT
On September 25, 2024, the EU, Euratom, and Member States exercised their right under Article 17 of the ECT to deny benefits of the Part III of the treaty which deals with investment protection and promotion to Russian and Belarussian investors.
IISD developed a model inter se agreement to neutralize the ECT sunset clause
IISD has developed a model inter se agreement to neutralize the sunset clause between the EU and non-EU contracting parties of the Energy Charter Treaty.
The German Constitutional Court rejected Achmea-related complaints
In September 2024, the German Constitutional Court has published two orders dated from July 2024 together with a public statement rejecting the Dutch insurer’s challenge to the decision annulling the award in its favour.
EU withdrawal from ECT EU withdrawal from ECT EU withdrawal from ECT EU withdrawal from ECT
On May 30, 2024, the Council of the European Union adopted a set of decisions greenlighting the withdrawal of the EU and Euratom from the ECT. The step follows several […]
UK withdraws from ECT, as does Ireland
On April 26, 2024, the United Kingdom notified its withdrawal from the ECT. This follows an earlier announcement of this step by the British government in February, in which Minister […]
EU CSDDD adopted
On April 24, 2024, the European Parliament voted to adopt the Corporate Sustainability Due Diligence Directive (CSDDD), following months of negotiations between EU institutions and member states. While such an […]
Ecuador Referendum
In a referendum on Sunday, April 21, the citizens of Ecuador emphatically voted to keep Article 422 of the country’s 2008 constitution, which prevents Ecuador from using international arbitration to […]
ICSID Appoints New Secretary-General
On April 30, 2024, ICSID’s Administrative Council appointed Martina Polasek as the new ICSID Secretary General. Her term begins on July 1, 2024, when she succeeds Meg Kinnear, who served […]
ITLOS Advisory Opinion
The International Tribunal for the Law of the Sea (ITLOS) has delivered its much-awaited advisory opinion regarding climate change obligations under the UN Convention on the Law of the Sea […]
The European Court of Human Rights finds that Switzerland violated its climate change-related obligations under the Convention
In a landmark judgment, the European Court of Human Rights found that Switzerland was not acting timely, sufficiently, and consistently to fulfill its positive obligations under the European Convention on […]
Swiss Federal Tribunal upholds intra-EU ECT award
As opposed to the approaches taken by various EU member states’ courts (see, e.g., here), the Swiss Federal Tribunal upheld an intra-EU investment award based on the ECT. The highest […]
UNCITRAL 46th Session zoned in on the Advisory Centre for Investment Dispute Resolution
On 22-26 January 2024, UNCITRAL Working Group III on Reform of ISDS held its 47th session in Vienna. The majority of the session was devoted to the Draft Statute of […]
EU and Canada issue joint interpretative statements on CETA investment standards
The 4th Joint Committee of the EU-Canada Comprehensive Economic Trade Agreement (CETA) held its meeting on 9 February, 2024, leading to, among other things, a joint interpretation on investment. The […]
New withdrawals from the ECT
On 22 February 2024, the UK government announced that it is leaving the ECT after the failure of efforts to align it with net zero. The withdrawal announcement by Slovenia […]
Annual WTO Ministerial Conference wraps up in Abu Dhabi
The 13th Ministerial Conference (MC13) of the WTO took place on 26 February-2 March 2024, in Abu Dhabi, United Arab Emirates, with close to 4,000 participants. The ministers ended the […]
UNCTAD’s new multistakeholder platform on International Investment Agreement (IIA) reform holds its first meeting
UNCTAD held the first of its newly established Multi-stakeholder Platform on IIA Reform on 4 March, 2024, with over 40 participants. The platform was launched at the 8th World Investment […]
UNCITRAL 7th Inter-sessional Meeting of Working Group III in Belgium
The 7th Inter-sessional Meeting of Working Group III was held in Egmont Palace in Brussels, Belgium on 7 and 8 March, 2024. The overarching theme of the meeting was “a […]
OECD Conference discussed climate action carveout from ISDS
On 11 March, 2024, the OECD held its 9th Investment Treaty Conference focusing on methods to align investment treaties with the Paris Agreement. The main reform proposal discussed was a […]
UNIDROIT and ICC are working on investment contract harmonisation
On 13-15 March, 2024, the UNIDROIT and ICC Institute of World Business Law Working Group on International Investment Contracts held its Second session in Paris. The Working Group, composed mostly […]
The International Seabed Authority discussing deep sea-bed mining
For the first time, the International Seabed Authority (ISA) is discussing a consolidated text of the draft deep-sea mineral exploitation regulations. Commercial deep-sea mining has been attracting increased attention, particularly […]
UN General Assembly Resolution on Tax Convention
Based on a draft resolution submitted by Nigeria on behalf of the African Group, the recent United Nations (UN) General Assembly resolution on the UN tax treaty aims to bolster […]
European Commission publishes model BIT clauses between EU member states and third countries
In September 2023, the European Commission has unveiled a non-paper presenting model clauses for BITs between EU member states and third countries. These model clauses, accompanied by annotations, aim to […]
UNCITRAL Working Group III continued its work in Vienna during its 46th session
In October 2023, UNCITRAL delegates to Working Group III gathered again in Vienna to continue their work on ISDS reform. Two topics were discussed—(i) draft provisions on the establishment of […]
UNCTAD’s World Investment Forum
From October 15 to 20, 2023, UNCTAD organized its eighth World Investment Forum in Abu Dhabi. The World Investment Forum highlighted global investment challenges and opportunities. Discussions focused on sustainable […]
British court upholds Nigeria’s challenge against controversial mega-award
The English High Court upheld Nigeria’s challenge against controversial awards in favour of Process & Industrial Developments Limited (P&ID) by finding significant irregularities in the arbitration process. The arbitration awards […]
High-profile coal phase-out intra-EU arbitration discontinued
As we reported earlier, in 2021, the German energy company RWE filed for a controversial ECT arbitration challenging the Netherlands’ coal phase-out. In the context of the arbitration, the Netherlands […]
EU respondent in one of the arbitrations brought by an oil-refining group
EU appears as a respondent in one of the three arbitrations brought by oil-refining companies belonging to Klesch Group (here, here, and here). It has been reported that the trio […]
Billionaire Clive Palmer files another arbitration against Australia
The Singapore company Zeph Investments Pte, owned by Australian billionaire Clive Palmer, has reportedly filed a notice of intention to commence arbitration against Australia based on the Singapore–Australia Free Trade […]
WTO Agreement on Investment Facilitation for Development is finalized
On July 6, 2023, more than 110 WTO members reached a significant milestone, as the finalization of the Investment Facilitation for Development Agreement’s (IFDA) text was announced. The IFDA is […]
European Commission proposes a coordinated EU withdrawal from the ECT
On July 7, 2023, the European Commission proposed a coordinated withdrawal by the EU, its member states, and Euratom from the ECT, citing the treaty’s incompatibility with the EU’s climate […]
UK to consider withdrawal from ECT if reform fails
The United Kingdom—a major ECT contracting state outside of the EU—indicated on September 1 that it would consider withdrawing from the ECT if the treaty’s signatories fail to agree on […]
Spanish-owned property being seized in the United Kingdom
As part of the enforcement saga of investment treaty arbitration awards issued in the renewable energy disputes against Spain, a Luxembourgish investor (formerly known as “Antin”) secured a seizing order […]
U.S. Court overturns a decision to enforce the Devas award
The U.S. Court of Appeals for the Ninth Circuit overturned a decision to enforce an award in favour of Devas based on a long-running dispute between Devas and Antrix. The […]
Czechia prevails in an arbitration brought by a former Czech senator
The state prevailed in an unusual dispute brought against it by companies ultimately controlled by a former Czech senator, Ivo Valenta. The case concerned municipalities’ authority to regulate gambling on […]
The German courts offer protection from intra-EU arbitrations
The German Federal Court of Justice confirmed in three related cases that EU member states may apply to it to hold intra-EU investment arbitrations based on the ECT and filed […]
UNCITRAL Working Group III: The Commission adopts the Working Group’s first outcome
During its July session, the UNCITRAL (Commission) adopted in principle the Code of Conduct for Arbitrators and . This is the first official outcome of the UNCITRAL Working Group III […]
Germany denies benefits to Russian investors under ECT
According to a press statement released by the Energy Charter’s Secretariat on March 17, 2023, Germany exercised its right under Article 17 of the Energy Charter Treaty (ECT) to deny […]
EU Parliament proposes directive to regulate third-party funding
The European Parliament recommended to the Commission to propose a Directive on the regulation of third-party funding in the EU with the title “Responsible funding of litigation.” If adopted in […]
Norway terminates its IIAs with European Economic Area members
The Government of Norway has been pursuing the termination of its bilateral investment treaties (BITs) with members of the European Economic Area (EEA–EEA membership contains EU and European Free Trade […]
