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May 2019 Newsletter
Dear Colleagues,
The Columbia Center on Sustainable Investment (CCSI) is pleased to update you on several events, recent publications and projects at the Center. Please check our website for more information about these and other activities.
Announcements
Publications
Past Events
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Enrollment Open for the New Semester of the Massive Open Online Course on Natural Resources for Sustainable Development
The new semester of our free Massive Open Online Course (MOOC) on Natural Resources for Sustainable Development: The Fundamentals of Oil, Gas and Mining Governance has begun! Now in its sixth edition, this joint course was developed by CCSI, the Natural Resource Governance Institute, the World Bank, and the United Nations Sustainable Development Solutions Network (SDSN) and has enrolled thousands of participants from all over the world. The new semester began on May 5 and runs for 12 weeks, but it is not too late to enroll! Watch the trailer here.
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New Tech, New Deal: Join the Conversation
Do you see new technologies and disruptive innovations reshaping the competitive dynamics in the mining sector? Will they fundamentally change the relationship between mining companies and their host communities, host countries? Join the conversation, and share your views on how governments, companies and communities can adapt to the speed and scope of mining industry changes. This week with the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development, Mining Shared Vision, and in partnership with GOXI, we are launching "New Tech, New Deal" a five-week online discussion that connects participants with leaders in policy, mining, technology and international development to address these questions.
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Localizing the Sustainable Development Goals: Data-Driven Development Planning
CCSI is supporting the local governments in Chile’s Huasco Province as they develop a long-term development strategy that takes into account the large-scale mining investment by NuevaUnion, a joint venture of Teck and Goldcorp. On March 28, CCSI helped to launch the “Roadmap to Sustainable Development of Hausco Province,” which includes a comprehensive and detailed diagnostic of the development needs of the Province; develops a consultation-driven vision for the Province's development priorities; and outlines strategic pillars to make that vision a reality. In the long term, the project foresees the creation of a data collection system with metrics that are closely aligned to the Sustainable Development Goals (SDGs). The English version of the report is forthcoming.
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Do Companies Have Personalities and Why Does It Matter?
CCSI has launched an interview series with senior experts on “company personality” and resource negotiations, focused on how company personalities inform negotiation strategies, prioritization of different contractual provisions, and the relationship between company and host government more generally. These personalities may be influenced by company nationality, culture, history, home country priorities, activity type, and/or the project stage. The series intends to shed light on company particularities and how governments can tailor their own negotiation strategies accordingly.
The third interview of the series is with Lou Wells, Herbert F. Johnson Professor Emeritus, Harvard Business School and CCSI Advisory Board Member.
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Lessons Learned From an Energy Company’s Green Transformation
In just 12 years, Ørsted has reduced its coal use by 81 percent and became the planet’s leading offshore wind-farm developer. CCSI interviewed Jakob Askou Bøss, head of strategy and communication at Ørsted, about lessons learned from Ørsted’s transition and their implications for other energy companies hoping to succeed in a decarbonized economy. Read the interview here. (Image source: Ørsted)
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Mapping Mining to the SDGs Now Available in Portuguese
Mapping Mining to the Sustainable Development Goals, published in 2016 by CCSI, the World Economic Forum, the UN Development Programme and SDSN, has now been published in Portuguese. The report creates a shared understanding of how the mining industry can most effectively contribute to the SDGs. The report is also available in English, Spanish and French.
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The Policy Implications of Third Party Funding in Investor-State Dispute Settlement
In recent years, investment funds have taken an increased interest in funding investor-state dispute settlement (ISDS) cases against governments. We have seen noteworthy increases in the number of funders, the number of funded cases, the number of law firms working with funders and the number of reported cases involving issues relating to funding. These developments raise myriad policy questions that have not yet adequately been identified or articulated. In this working paper, The Policy Implications of Third-Party Funding in Investor-State Dispute Settlement, CCSI highlights some of these issues, focusing in particular on examining whether and to what extent third-party funding aligns with the objectives of investment treaties. We welcome comments on this working paper in order to further refine the text and further evaluate appropriate reform solutions.
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What Happened at UNCITRAL’s April Working Group III Session? What Will Happen Next?
From April 1-5, 2019, 106 governments met under the auspices of the United Nations Commission on International Trade Law (UNCITRAL) to discuss how to reform the controversial ISDS system. This blog by CCSI Investment Law & Policy Head Lise Johnson discusses five key takeaways from the meetings, looking back at what happened, and the issues to watch for at future sessions.
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Alternatives to Investor-State Dispute Settlement
In light of current uni-, bi-, and multilateral efforts to reform ISDS, this CCSI working paper, Alternatives to Investor-State Dispute Settlement, considers four alternatives that, when used alone or in combination, might better serve the oft-stated objectives of the mechanism. These alternatives include: (1) strengthening domestic legal systems, (2) the use of risk insurance by investors, (3) using state-state cooperation and dispute settlement mechanisms, and (4) using existing human rights mechanisms for certain kinds of redress. This working paper is the second of a two-part series (Part I here). We welcome comments.
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Determining Quality Foreign Direct Investment: A Commentary on the OECD’s “FDI Qualities Project”
In 2018, the Organisation for Economic Co-operation and Development (OECD) Secretariat launched a "qualities project” for foreign direct investment (FDI). Its objective is to provide governments with a tool-kit to attract investment that contributes to sustainable development; for that purpose, it has identified “FDI qualities indicators.” This brief note by CCSI Resident Senior Fellow Karl P. Sauvant discusses the approach used to identify these indicators and FDI sustainability characteristics. This work will—and should—have implications for future arbitral proceedings, as well as the World Trade Organization’s Structured Discussions on investment facilitation.
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Past Events
April 25, 2019: The Politics and Practice of Free, Prior and Informed Consent
Alongside the 18th Session of the UN Permanent Forum on Indigenous Issues, and together with Middlesex University London, CCSI convened a roundtable on the politics and practice of Free, Prior and Informed Consent (FPIC) in the context of natural resource projects. The roundtable explored the political realities that affect meaningful implementation of FPIC, and considered different modalities for meaningfully incorporating FPIC into investor-state contract negotiations. Insights from the roundtable will feed into CCSI's ongoing research on the politics of FPIC and into a paper on incorporating FPIC and meaningful consultation into investor-state contract negotiations.
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