In recent years, investor-State dispute settlement (ISDS) has been at the centre of the debate over the effects of globalizations and the entrenchment of corporate power worldwide. As the number of ISDS cases has grown, so too has scepticism over the ISDS system’s benefits. Against the background of the ongoing debate about this expanding area of international dispute settlement, the United Nations Commission on International Trade Law (UNCITRAL), mandated its Working Group III in 2017 to work on a comprehensive reform of ISDS. It is currently developing concrete reform elements to address the concerns identified with regard to the existing system.
Anna Joubin-Bret, who leads UNCITRAL’s efforts, will provide an update on where UNCITRAL stands in the reform process and the pathway forward. Professor Alvaro Santos will follow Ms. Joubin-Bret remarks with a presentation of the results of a policy brief recently launched by the Center for the Advancement of the Rule of Law in the Americas (CAROLA) that provides policy makers with a set of international investment reform options and mechanisms to implement them. Lelia Mooney, CAROLA’s Executive Director and Adjunct Professor will facilitate the panel.