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Evidence. Passion. Sustainability.
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IISD | Economic Law and Policy Program
How IISD's Economic Law and Policy Program is working to advance sustainable and equitable development

SEPTEMBER 2017

AN INTRODUCTION TO IISD'S ECONOMIC LAW AND POLICY PROGRAM


The overarching objective of IISD's Economic Law and Policy Program is to reform economic policies in order to advance sustainable and equitable development. Our geographically and intellectually diverse team of experts work to enhance the capacities of developing country officials, develop evidence-based policy options, expand the overall understanding of critical issues and push for systemic reforms. 

Our work is focused on investment law and policy, mining, agricultural investment, public procurement and infrastructure finance and voluntary sustainability standards.

In this newsletter we would like to highlight some recent projects, publications and events. We welcome your feedback and the opportunity to engage with you further.
  
Nathalie Bernasconi-Osterwalder
Group Director, Economic Law and Policy Program


REFORMING INVESTOR–STATE DISPUTE SETTLEMENT


With important public policy issues at stake and with governments often condemned to pay multimillion-dollar awards, public awareness and opposition to investor–state dispute settlement (ISDS) have increased significantly over the past few years.

The United Nations Commission on International Trade Law (UNCITRAL) was charged with a mandate on ISDS reform in July. IISD has worked with  UNICITRAL in the past and successfully put the issue of transparency in investment arbitration on its agenda. In the lead-up to the July UNICITRAL meeting, we submitted a position paper that argued for the development of a comprehensive and inclusive investment-related dispute settlement mechanism. We are now preparing for the first session of the expert working group, which will take place November 27 to December 1, 2017 in Vienna.

We also recently published a report from an expert meeting examining ways forward on a compliance and dispute settlement mechanism on investment. The meeting was held in conjunction with the American University Washington College of Law.

More information about IISD's work in this field is available on our investment topic page.
 


LATIN AMERICAN INVESTMENT TREATY NEGOTIATORS DISCUSS REFORM


Latin American investment treaty negotiators gathered in Buenos Aires in September for a meeting co-hosted by IISD and the Secretariat of International Economic Relations of the Ministry of Foreign Affairs and Worship of the Argentine Republic.

Representatives from seven countries engaged in open and frank discussions on investment negotiations and dispute settlement. They reached a number of strong conclusions and came up with a host of tactics to pursue reform.

They stressed that Latin American countries should actively participate in regional and multilateral discussions, including on the creation of a multilateral investment court. They also discussed options for reform, which included denouncing and renegotiating first-generation investment treaties; incorporating clearer and more precise standards and safeguarding the state’s right; issuing joint interpretations; and strengthening national systems for the protection of foreign investment.  

More information and a press release issued by the ministry is available in the meeting report.
 


FARMLAND INVESTMENTS ARE FINDING THEIR WAY TO INTERNATIONAL ARBITRATION


A claim registered this month by a Swedish investor against the Tanzanian government for revoking a land title amid concerns over the impact on local communities and a wildlife sanctuary is the first known investor–state dispute against a government linked to the so-called “land grab” phenomenon, which arose out of the 2008 food crisis.

We predicted these types of disputes some years ago (see IISD’s report and PPT). It is virtually impossible for governments to guarantee that large tracts of land can be made available unencumbered.

We argue in this blog that investment treaties should not be used against governments that need to change or exit from a proposed land investment, especially when no agreement can be reached with affected local communities. Yet, this is what we see repeatedly in the extractives sector and are now starting to see in the agricultural sector. Investors are seeking access to minerals and land based on the speculation that local communities will fall in line. 

 


SHOWING THE VALUE OF GREEN PUBLIC PROCUREMENT 


The Government of Bhutan has embraced the value of green public procurement (GPP) and is setting an example for other countries of how to leverage the power of the public purse to advance sustainable development.

IISD led the GPP in Bhutan (GPPB) project and is proud to have contributed to this transformation.

Bhutan was an ideal testing ground for a major GPP project. Environmental conservation is one of the four pillars of Bhutan’s Gross National Happiness principles and the government places high importance on sustainable and green initiatives. The potential impact on the economy is also significant: public procurement represents approximately 21 per cent of GDP and 60–70 per cent of the government’s annual budget.

Over the course of 3.5 years, IISD and its partners helped the government to engage civil servants and local business and to integrate GPP into procurement practices. Read more about GPPB's achievements in this project summary.

AFTER NAFTA?
EXPERT PERSPECTIVES ON ITS RENEGOTIATION

Canada, the United States and Mexico recently met for the third round of NAFTA renegotiations.
 
With four more rounds of talks before the end of the year and a lack of clear priorities from the United States, it’s still unclear what the NAFTA renegotiations mean for the environment, trade, investment and the lives of millions of North Americans.
 
IISD invited a group of experts to weigh in on the subject and share their views. You may view an  overview on our NAFTA commentary page and find out more about IISD's extensive work on the subject on our trade topic page.


IGF'S ANNUAL GENERAL MEETING:
GOVERNMENT DELEGATES, EXPERTS & INDUSTRY REPRESENTATIVES TO DISCUSS MINING FOR SUSTAINABLE DEVELOPMENT 


Government delegates, leading experts and representatives from the mining industry, academia and civil society will gather in Geneva October 16-20, 2017 for the IGF's 13th Annual General Meeting

The theme of this year’s meeting is Managing Artisanal and Small-Scale Mining (ASM). However, we will also be covering a wide range of other topics, such as: tax base erosion and profit shifting; local content policies; mine closure; voluntary sustainability initiatives; and environmental impact assessment. More details are available on the event page.

For more information please visit the IGF website and subscribe to its newsletter. IISD hosts the IGF Secretariat.
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