Multinational corporations as a new subject of international investment law: Rights conferred to investors under the ISDS provisions of intergovernmental and bilateral treaties and ways to balance this new reality

The international investment regime has faced several criticisms already since the mid-2000s. Scholars and civil society have called both for refinement of the content of the numerous bilateral investment treaties (BITs) and other international investment agreements (IIAs), as well as for reconsider...

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Autor: Chochorelou, María
Tipo de recurso: tesis doctoral
Estado:Versión publicada
Fecha de publicación:2018
País:España
Institución:CBUC, CESCA
Repositorio:TDR. Tesis Doctorales en Red
OAI Identifier:oai:www.tdx.cat:10803/664724
Acceso en línea:http://hdl.handle.net/10803/664724
Access Level:acceso abierto
Palabra clave:International Investment Law
Free Trade Agreements
Investment Regime
Sustainable Development
33
341
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spelling Multinational corporations as a new subject of international investment law: Rights conferred to investors under the ISDS provisions of intergovernmental and bilateral treaties and ways to balance this new realityChochorelou, MaríaInternational Investment LawFree Trade AgreementsInvestment RegimeSustainable Development33341The international investment regime has faced several criticisms already since the mid-2000s. Scholars and civil society have called both for refinement of the content of the numerous bilateral investment treaties (BITs) and other international investment agreements (IIAs), as well as for reconsideration of the purpose of the investment regime. Over the past few years, we face a phase of ‘re-orientation’ of international investmen law. The 1990s rush of conclusion of BITs is slowing down and gives way to the negotiations at the regional level. This era of transition from investment bilateralism to regionalism presents us with a paradox, which has revived the question of the legal status of multinational corporations. On the one hand, the mega-regional Free Trade Agreements (FTAs) concluded and being negotiated advance the protection of investors and facilitate their access to Investor-State dispute settlement (ISDS). On the other hand, States attempt to react to investors’ growing power either by opting out from ISDS or by reforming investment standards to better reflect their interests. One of the primary objectives of States during this phase of re-orientation of international investment law is safeguarding their right to regulate for public purpose interests. In order to meet this goal, the past few years States slightly shift towards sustainable development, a concept that has been criticized as threatened by the old IIA regime. The adoption of a sustainable development-oriented approach in investment law also depends largely on the tribunals that are tasked with the interpretation of IIAs. Despite their current reluctance to engage in a sustainable development discussion, this situation may alter with the conclusion of the post-2015 FTAs. These treaties make more references to the principle, both in separate chapters and in their investment chapters. They also place at the arbitrators’ disposal interpretative tools for the integration of sustainable development into their argumentation. This thesis concludes that regionalism has not be suitable to resolve the ‘battle’ of predominance between investors and States. It argues that other options that may be more suitable to strike a delicate balance between the protection of foreign investment and the public interests of States, and reflects on changes that may render the investment regime more compatible with sustainable development. Special focus is given to the drafting of a multilateral investment treaty, which, although could serve as a ‘golden mean’ between States and investors, still raises concerns and seems as as farfetched idea.Universitat Internacional de CatalunyaEspaliú Berdud, CarlosUniversitat Internacional de Catalunya. Departament de Ciències Jurídiques i Polítiques201920192018info:eu-repo/semantics/doctoralThesisinfo:eu-repo/semantics/publishedVersion233 p.application/pdfapplication/pdfhttp://hdl.handle.net/10803/664724TDX (Tesis Doctorals en Xarxa)reponame:TDR. Tesis Doctorales en Redinstname:CBUC, CESCAInglésL'accés als continguts d'aquesta tesi queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons: http://creativecommons.org/licenses/by-nc-nd/4.0/http://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessoai:www.tdx.cat:10803/6647242026-06-14T12:46:07Z
dc.title.none.fl_str_mv Multinational corporations as a new subject of international investment law: Rights conferred to investors under the ISDS provisions of intergovernmental and bilateral treaties and ways to balance this new reality
title Multinational corporations as a new subject of international investment law: Rights conferred to investors under the ISDS provisions of intergovernmental and bilateral treaties and ways to balance this new reality
spellingShingle Multinational corporations as a new subject of international investment law: Rights conferred to investors under the ISDS provisions of intergovernmental and bilateral treaties and ways to balance this new reality
Chochorelou, María
International Investment Law
Free Trade Agreements
Investment Regime
Sustainable Development
33
341
title_short Multinational corporations as a new subject of international investment law: Rights conferred to investors under the ISDS provisions of intergovernmental and bilateral treaties and ways to balance this new reality
title_full Multinational corporations as a new subject of international investment law: Rights conferred to investors under the ISDS provisions of intergovernmental and bilateral treaties and ways to balance this new reality
title_fullStr Multinational corporations as a new subject of international investment law: Rights conferred to investors under the ISDS provisions of intergovernmental and bilateral treaties and ways to balance this new reality
title_full_unstemmed Multinational corporations as a new subject of international investment law: Rights conferred to investors under the ISDS provisions of intergovernmental and bilateral treaties and ways to balance this new reality
title_sort Multinational corporations as a new subject of international investment law: Rights conferred to investors under the ISDS provisions of intergovernmental and bilateral treaties and ways to balance this new reality
dc.creator.none.fl_str_mv Chochorelou, María
author Chochorelou, María
author_facet Chochorelou, María
author_role author
dc.contributor.none.fl_str_mv Espaliú Berdud, Carlos
Universitat Internacional de Catalunya. Departament de Ciències Jurídiques i Polítiques
dc.subject.none.fl_str_mv International Investment Law
Free Trade Agreements
Investment Regime
Sustainable Development
33
341
topic International Investment Law
Free Trade Agreements
Investment Regime
Sustainable Development
33
341
description The international investment regime has faced several criticisms already since the mid-2000s. Scholars and civil society have called both for refinement of the content of the numerous bilateral investment treaties (BITs) and other international investment agreements (IIAs), as well as for reconsideration of the purpose of the investment regime. Over the past few years, we face a phase of ‘re-orientation’ of international investmen law. The 1990s rush of conclusion of BITs is slowing down and gives way to the negotiations at the regional level. This era of transition from investment bilateralism to regionalism presents us with a paradox, which has revived the question of the legal status of multinational corporations. On the one hand, the mega-regional Free Trade Agreements (FTAs) concluded and being negotiated advance the protection of investors and facilitate their access to Investor-State dispute settlement (ISDS). On the other hand, States attempt to react to investors’ growing power either by opting out from ISDS or by reforming investment standards to better reflect their interests. One of the primary objectives of States during this phase of re-orientation of international investment law is safeguarding their right to regulate for public purpose interests. In order to meet this goal, the past few years States slightly shift towards sustainable development, a concept that has been criticized as threatened by the old IIA regime. The adoption of a sustainable development-oriented approach in investment law also depends largely on the tribunals that are tasked with the interpretation of IIAs. Despite their current reluctance to engage in a sustainable development discussion, this situation may alter with the conclusion of the post-2015 FTAs. These treaties make more references to the principle, both in separate chapters and in their investment chapters. They also place at the arbitrators’ disposal interpretative tools for the integration of sustainable development into their argumentation. This thesis concludes that regionalism has not be suitable to resolve the ‘battle’ of predominance between investors and States. It argues that other options that may be more suitable to strike a delicate balance between the protection of foreign investment and the public interests of States, and reflects on changes that may render the investment regime more compatible with sustainable development. Special focus is given to the drafting of a multilateral investment treaty, which, although could serve as a ‘golden mean’ between States and investors, still raises concerns and seems as as farfetched idea.
publishDate 2018
dc.date.none.fl_str_mv 2018
2019
2019
dc.type.none.fl_str_mv info:eu-repo/semantics/doctoralThesis
info:eu-repo/semantics/publishedVersion
format doctoralThesis
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dc.identifier.none.fl_str_mv http://hdl.handle.net/10803/664724
url http://hdl.handle.net/10803/664724
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.rights.none.fl_str_mv http://creativecommons.org/licenses/by-nc-nd/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv http://creativecommons.org/licenses/by-nc-nd/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv 233 p.
application/pdf
application/pdf
dc.publisher.none.fl_str_mv Universitat Internacional de Catalunya
publisher.none.fl_str_mv Universitat Internacional de Catalunya
dc.source.none.fl_str_mv TDX (Tesis Doctorals en Xarxa)
reponame:TDR. Tesis Doctorales en Red
instname:CBUC, CESCA
instname_str CBUC, CESCA
reponame_str TDR. Tesis Doctorales en Red
collection TDR. Tesis Doctorales en Red
repository.name.fl_str_mv
repository.mail.fl_str_mv
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