CIAO DATE: 03/2015
April 2014
Columbia Center on Sustainable Investment
Critiques of investment treaties relate to the concern that tribunals’ interpretations of these agreements depart from states’ understandings of the texts, and do so in unpredictable ways leading to expensive litigation and unforeseen liability. States, however, can take steps to make their intentions regarding the texts clearer, and reduce the risk of uncertain outcomes. This policy paper discusses these possible steps, and the legal rules supporting them, providing guidance to states, attorneys, and tribunals regarding the important role of states in clarifying vague standards in and managing liability under existing investment treaties.
Resource link: State Control over Interpretation of Investment Treaties [PDF] - 872K