To increase accountability & access to remedy, govts. should address negative impact of Investor-State Dispute Settlement mechanism on human rights, say NGOs

Author: ICAR & SOMO, Published on: 14 June 2017

"Investment-related Dispute Settlement: Towards Comprehensive Accountability and Inclusive Access to Remedy", Jun 2017

Trade and investment can be a potentially powerful tool to support economic growth, job creation, and the realization of human rights. Yet, the rules that govern the global trade and investment regime are not written in a manner that enable or allow for inclusive growth and sustainable development…

At present, we are faced with a system that prioritizes corporate rights over human rights…

…[I]t is time for all governments to critically reflect on the impacts of the global trade and investment regime on human rights, inequality, and sustainable development. Structural changes to the trade and investment regime should be prioritized to ensure that it benefits all, this includes addressing the negative impacts of Investor-State Dispute Settlement (ISDS) clauses…

ISDS clauses enable investors to bypass State courts and bring claims directly against States before private arbitration tribunals if they consider a law or policy to violate the broad investor rights granted in the treaty…

…However, individuals and communities most impacted by the investments of these actors have no recourse to specialized remedy in the international system. This imbalance of power is unjust, and unjustified…

[Refers to Chevron, Metalclad (part of Entrx), Occidental Petroleum, Renco, Vattenfall]

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Related companies: Chevron Entrx Metalclad (part of Entrx) Occidental Petroleum Renco Vattenfall