RECENT ICSID DEVELOPMENTS: CASELOAD STATISTICS AND THE FIRST YEAR OF PRACTICE UNDER THE ICSID 2022 RULES

ICSID has recently released its biannual caseload statistics for FY2023 and a separate publication reviewing the first year of practice under the newly implemented ICSID 2022 Rules. These publications offer valuable information for practitioners and stakeholders interested in the evolving landscape of investment arbitration. This article summarises some of the key information from each publication. … Read more

The European Commission proposes withdrawal from the Energy Charter Treaty

On 7 July 2023, the European Commission formally proposed a coordinated European Union withdrawal from the Energy Charter Treaty (ECT), one of the world’s largest multilateral investment treaties, citing its incompatibility with the EU’s enhanced climate ambitions under the European Green Deal and the Paris Agreement. This comes against the background of long-running – and … Read more

GERMAN FEDERAL COURT OF JUSTICE RULES ON APPLICATIONS TO DECLARE TWO PENDING INTRA-EU ICSID ARBITRATIONS INADMISSIBLE

 INTRODUCTION On 27 July 2023, the German Federal Court of Justice (“BGH”) ruled on applications by Germany and the Netherlands to declare two pending ICSID arbitrations inadmissible. The investor-State arbitrations of Mainstream Renewable v. Germany and RWE v. the Netherlands were initiated by an Irish investor against Germany and by a German investor against the … Read more

Colombia and Venezuela agree a new Bilateral Investment Treaty, Venezuela’s first since withdrawing from the ICSID Convention

On February 23, 2019, Venezuela broke diplomatic relations with Colombia and gave Colombian diplomats twenty-four hours to leave the country. Four years later, on February 3, 2023, Colombia and Venezuela signed an unprecedented bilateral investment treaty (BIT) that evidences the marked improvement in their relations since the election of President Gustavo Petro in June 2022. … Read more

Treaty on maritime biodiversity finalised

On 4 March 2023, the UN Intergovernmental Conference on Marine Biodiversity of Areas Beyond National Jurisdiction (Conference) reached agreement on the text of a new treaty which seeks to protect the marine environment. The Agreement under the United Nations Convention on the Law of the Sea on the Conservation and Sustainable Use of Marine Biological Diversity of Areas Beyond … Read more