Articles
| Open Access |
https://doi.org/10.37547/ijlc/Volume03Issue04-01
INVESTOR-STATE DISPUTE SETTLEMENT IN INTERNATIONAL PUBLIC LAW: AN EVALUATION OF RECENT DEVELOPMENTS
Abstract
Investor-State Dispute Settlement (ISDS) is a mechanism for resolving disputes between investors and states under international investment agreements. While ISDS has become increasingly popular over the past few decades, it has also been subject to significant criticism for giving too much power to foreign investors and undermining the sovereignty of host states. In this article, we evaluate recent developments in ISDS from the perspective of international public law. We discuss the origins and growth of ISDS, as well as the increasing use of ISDS by investors from developed countries against developing countries. We then examine recent developments in ISDS, including the adoption of transparency rules by UNCITRAL, the Mauritius Convention on Transparency in ISDS, and changes to the way ISDS cases are decided. While these developments represent positive steps towards improving the legitimacy and effectiveness of ISDS, we also acknowledge remaining concerns regarding the imbalance of power between investors and host states, as well as the high costs of defending claims.
Keywords
Investor-State Dispute Settlement, international investment agreements, UNCITRAL
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