A RECORDING OF THIS SESSION IS AVAILABLE HERE.Interpretation available in English, French and Spanish
Brief description of the session:
In its 2021 report to the UN General Assembly (
A/76/238), the UN Working Group on Business and Human Rights highlights that the current international investment regime reflects three “I”s: imbalance, inconsistency, and irresponsibility. The report, which unpacks Principles 9 of the UN Guiding Principles on Business and Human Rights (UNGPs), urges States to ensure that all existing and future investment agreements are compatible with their international human rights obligations. Building on recommendations made by the UNCTAD , the South Centre and other organisations, the Working Group outlines five complementary pathways for States to harness the potential of international investment agreements (IIAs) in encouraging responsible business conduct on the part of investors and holding them accountable for abusing internationally recognised human rights. This session will focus on discussing strategies to achieve a faster and systemic reform of IIAs and the wider investment policy frameworks.
Key objectives of the session:
The session aims to:
- Highlight the recommendations made by the UN Working Group in its 2021 report;
- Examine how the reform of IIAs could promote business respect for human rights and strengthen access to remedy for communities affected by investment-related projects;
- Explore the role of IIAs in promoting responsible investment, supporting an inclusive and sustainable economy, and mitigating climate change; and
- Discuss the role of various international or regional organisations in supporting States to make structural and systemic reform of the existing international investment regime.
Key discussion questions:- What are the main barriers or challenges in reforming the international investment regime, including the investor-State dispute settlement (ISDS) mechanism?
- Does the COVID-19 pandemic present an opportunity or bring an additional challenge?
- What role could IIAs play in facilitating transition to net zero economies and overcoming existing socio-economic inequalities?
- How is the role of communities affected by investment-related projects in the reform of IIAs, including harnessing their potential to hold investors accountable?
- What role could organisations such as UNCTAD, South Centre and OECD play to ensure that reform of IIAs is not superficial or symbolic?
Background documents:
Video Stream