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The future of investment treaties - possible directions

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  • David Gaukrodger

    (OECD)

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.

Suggested Citation

  • David Gaukrodger, 2021. "The future of investment treaties - possible directions," OECD Working Papers on International Investment 2021/03, OECD Publishing.
    • Handle: RePEc:oec:dafaaa:2021/03-en
    DOI: 10.1787/946c3970-en
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    Cited by:

    1. Kezhen Su & Wei Shen, 2023. "Environmental Protection Provisions in International Investment Agreements: Global Trends and Chinese Practices," Sustainability, MDPI, vol. 15(11), pages 1-34, May.

    More about this item

    Keywords

    environmental law; human rights; labour law; responsible business conduct; sustainable development;
    All these keywords.

    JEL classification:

    • F18 - International Economics - - Trade - - - Trade and Environment
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • F60 - International Economics - - Economic Impacts of Globalization - - - General
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law
    • K33 - Law and Economics - - Other Substantive Areas of Law - - - International Law
    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General

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