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9 - Investment Dispute Settlement à la carte: A Proposal for the Reform of Investor–State Dispute Settlement

from Part II - Current Challenges in International Investment Dispute Settlement

Published online by Cambridge University Press:  07 August 2021

Manfred Elsig
Affiliation:
Universität Bern, Switzerland
Rodrigo Polanco
Affiliation:
Universität Bern, Switzerland
Peter van den Bossche
Affiliation:
Universität Bern, Switzerland
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Summary

There is widespread consensus that investor–state dispute settlement (ISDS) is in need of reform. In late 2018, Working Group III of the United Nations Commission on International Trade Law (UNCITRAL), tasked with considering investor–state dispute settlement reform, agreed by consensus that reforming the current system of investor–state arbitration was “desirable” in order to address concerns relating to: (1) consistency, coherence, predictability, and correctness of arbitral rulings; (2) independence, impartiality, and diversity of decision-makers; and (3) costs and duration of proceedings (UNCITRAL 2018). Since then, delegations at UNCITRAL have started looking at potential solutions in order to address the concerns identified (Sachetim and Codeço 2019; UNCITRAL 2019a).

Type
Chapter
Information
International Economic Dispute Settlement
Demise or Transformation?
, pp. 220 - 263
Publisher: Cambridge University Press
Print publication year: 2021

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