Climate change is among the most pressing global challenges of our time. The current IIA regime can constrain States when implementing measures to combat climate change. Many past investor–State dispute settlement (ISDS) cases were related to measures or sectors of direct relevance to climate action. To address challenges arising from the IIA regime, States may need to fast-track reforms to make IIAs more aligned with climate action as well as other public policy imperatives.
UNCTAD and the D-8 Organization for Economic Cooperation (Bangladesh, Egypt, Nigeria, Indonesia, Iran, Malaysia, Pakistan, and Türkiye) organized a workshop on the international investment regime and climate change. This webinar discussed how the IIA regime can be adapted through treaty renegotiation and amendments to design climate responsive IIAs while minimizing the risk of facing ISDS claims related to climate change policies. UNCTAD and the D-8 will also hold a joint session during UNCTAD’s World Investment Forum 2023 to be held from 16-20 October 2023.
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