Since I seem to only blog about investor-state dispute related issues, I thought I pass along a recent UNCTAD policy note about reforming the ISD system.
UNCTAD's summary of the report's key findings:
Concerns with the current ISDS system relate, among others things, to
a perceived deficit of legitimacy and transparency; contradictions
between arbitral awards; difficulties in correcting erroneous arbitral
decisions; questions about the independence and impartiality of
arbitrators; and the length and the costs of arbitral procedures. These challenges have given rise to a broad discussion about the need
to reform the current system of investment arbitration. To give shape
to this debate, the Note puts forward five main reform paths:
- Promoting alternative dispute resolution.
- Tailoring the existing system through individual IIAs.
- Limiting investor access to ISDS.
- Introducing an appeals facility.
- Creating a standing investment court.
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