Columbia International Affairs Online: Policy Briefs

CIAO DATE: 04/2014

Recalibrating interpretive authority

Anthea Roberts

January 2014

Columbia Center on Sustainable Investment


There have been many calls for a rebalancing of investor protection and state sovereignty in the investment treaty system. However, another equally important shift is underway: the recalibration of interpretive authority between treaty parties and arbitral tribunals. In newer-style investment treaties, states are increasingly protecting and enhancing their role in interpreting and applying their treaties.