Facilitation of Foreign Investments for Sustainable Development
This content discusses the facilitation of foreign investments for sustainable development, focusing on addressing issues such as lack of provisions on sustainable development, new trends in investment agreements, transparency commitments, stakeholder engagement, and the scope of agreements contributing to sustainable development. It highlights key aspects like CSR obligations for investors, access to development finance, and the global strategy surrounding foreign investments.
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Presentation Transcript
A Changing Landscape: A Changing Landscape: Facilitation of Foreign Investments Facilitation of Foreign Investments for Sustainable Development for Sustainable Development Domenico Pauciulo 9.11.2023
BITs: lack of provisions on sustainable development issues (e.g. environmental and climate protection; human rights) ISDS backlash New generations of IIAs: promoting sustainable development CSR obligations for investors Limit: hortatory language New trends in investment agreements Investment facilitation set of policies and actions designed to make it easier for investors to establish and expand their investments and to conduct their daily business in the host state (UNCTAD) Examples: Brazilian CFIA EU-Angola SIFA Protocols on Investment (Mercosur; African Continental FTA) Asean Inv Facilitation Framework; RCEP Australia-Singapore Green Economy Agreement
TRANSPARENCY COMMITMENTS Publications requirements - art.8.2 Brazil-Mexico CFIA) Streamlining of administrative procedures and digitalization - art. 13 to 19 SIFA) Regulatory coherence Entry and stay of key personnel (40% of IIAs) STAKEHOLDERS ENGAGEMENT Right to be heard or open consultation (EU-NZ) National focal points (Intra-Mercosur Protocol, Brazil CFIAs) Civil society engagemen (SIFA) Ruleson facilitation INSTITUTIONAL FRAMEWORK Platforms for cooperation and technical assistance Cooperation between Inv Promotion Agencies Joint programmes (GEA) Dispute settlement avoidance and prevention (and no ISDS!)
Scope of the Agreement: limited to investments that contribute to sustainable development (Protocol AfCTA; Au Sin GEA) Best efforts provisions: commitments to promote and facilitate trade and investment in environmental goods and services Protection of the right to regulate Specific rules on sustainable development Link of the levels of environmental and social protection to international standards CSR obligations for investors (Dem Rep Congo-Rwanda BIT) Access to development finance (Kenya-UK EPA)
Global strategy (G20; UNCTAD; OECD in addition to bilateral and regional examples) Revive multilateralism EU Global Gateway Strategy WTO Investment Facilitation for Development Investment facilitation as the way forward? Conclusion: still too modest commitments in advancing investment for sustainable development
Thankyou! Domenico Pauciulo
