The Safeguarding of Host States' Right to Regulate for Environment in New-generation IIAs
The original intention of the old-generation IIAs was for the countries to attract foreign investment and promote domestic economic development by limiting their own regulatory space and promising to protect foreign investors and their investments.However,as environmental problems become increasingly serious,guided by the philosophy of sustainable development,new-generation IIAs are expected to integrate the economy and the environ-ment through rule-making,and the states'right to regulate for environment becomes the key to safeguarding the environmental interests of the host states.Therefore,signing or renewing IIAs should incorporate the clauses of the right to regulate and general exception,restrict the economic rights granted to foreign investors by investment protec-tion clauses in old-generation IIAs,such as expropriation,non-discriminatory treatment,fair and equitable treat-ment,and prevent them from abusing their regulatory power while safeguarding the host states'space to regulate for environment,so that states can take rational and effective measures to address environmental issues faced by mankind.
IIAsRight to regulate for environmentEnvironmental regulatory spaceInvestment protec-tionEnvironmental interests
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