MOOC : International Investment Law

Are you aware of the controversial investor-State disputes and arbitral awards in which the public interest has been at stake, for instance, the protection of human rights and the environment? Do you recall recent cases such as Philip Morris v Uruguay and Vattenfall v Germany?

In the aftermath of these high-profile cases and in the context of the negotiation of new international investment treaties, like the CETA and the TPP, local populations, policy-makers and NGOs have come to realize the societal importance of international investment law and arbitration. Passionate and sometimes ill-informed discussions have resulted from this realization. They have focused on the features of international investment law, which has traditionally granted rights to foreign investors notably to foster States’ economic development. Central to these discussions are the issues of:

• the balance between the protection of foreign investments/investors and the right of host States to regulate in order to protect public interest objectives;
• the regulation of foreign investments, i.e., the duties and obligations of foreign investors;
• the promotion of sustainable development in international investment law;
• the legitimacy of arbitration tribunals to decide on disputes between host States and foreign investors;
• the coherence of arbitration practice.

Learning and understanding the features and dynamics of international investment law and arbitration is key not only for international lawyers and policy-makers, but it is also important knowledge for all well-informed citizens.