International Investment Arbitration for Climate Change Policies:Risks and Countermeasures
Climate change has become a common challenge for all mankind.In order to cope with climate change,countries have introduced mitigation and adaptation policies.The fair and equitable treatment clause in international investment agreements is full of uncertainties because of its ambiguous connotation.Host countries may face international investment arbitration claims against their climate change policies for violating the fair and equitable treatment clause,and the most common accusation is the violation of the principle of legitimate expectations.In the"legitimate expectations"determination by the arbitral tribunal in favor of investors,the public-private relationship between the investor and the host country is in conflict.To achieve the"dual carbon"goal,China,in view of the dual status of capital importers and exporters,should strike a balance between investment protection and host countries'climate regulatory rights by avoiding overemphasis on the legitimate expectations element in the fair and equitable treatment clause,enhancing flexibility in climate change policies,and strengthening domestic legal attention to climate issues.
climate changeinternational investment arbitrationrenewable energy sourcesfair and equitable treatmentlegitimate expectations
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