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Unsustainable Investment: Scoping Expropriation without Compensation

In: The European Union and the Evolving Architectures of International Economic Agreements

Author

Listed:
  • Pascale Accaoui Lorfing

    (University of Burgundy
    Lecturer at ESCP Business School)

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.

Suggested Citation

  • Pascale Accaoui Lorfing, 2023. "Unsustainable Investment: Scoping Expropriation without Compensation," Springer Books, in: Ottavio Quirico & Katarzyna Kwapisz Williams (ed.), The European Union and the Evolving Architectures of International Economic Agreements, chapter 0, pages 95-108, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-2329-8_6
    DOI: 10.1007/978-981-99-2329-8_6
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