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Shifting Paradigms in International Investment LawMore Balanced, Less Isolated, Increasingly Diversified$
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Steffen Hindelang and Markus Krajewski

Print publication date: 2016

Print ISBN-13: 9780198738428

Published to Oxford Scholarship Online: April 2016

DOI: 10.1093/acprof:oso/9780198738428.001.0001

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Revising Treatment Standards— Fair and Equitable Treatment in Light of Sustainable Development

Revising Treatment Standards— Fair and Equitable Treatment in Light of Sustainable Development

Chapter:
(p.65) III Revising Treatment Standards— Fair and Equitable Treatment in Light of Sustainable Development
Source:
Shifting Paradigms in International Investment Law
Author(s):

Roland Kläger

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198738428.003.0004

General treatment standards like fair and equitable treatment provisions are often criticized for being vague and excessively demanding. In response to such concerns, the UNCTAD Investment Policy Framework for Sustainable Development (IPFSD) suggests different policy options to reform and concretize fair and equitable treatment provisions in international investment agreements. This chapter critically reviews the different policy options presented in the IPFSD with regard to fair and equitable treatment. In testing the IPFSD’s assumption that some policy options are less conducive to sustainable development than others, the chapter finds that under all options a vagueness problem continues to exist, but that a balancing of investment protection interests and sustainable development concerns is also possible under all options. Therefore, it is suggested to focus more strongly on the concept and structure of balancing by taking into account the virtues of a proportionality analysis.

Keywords:   fair and equitable treatment, minimum standard, legitimate expectations, balancing, proportionality, sustainable development, interpretation, systemic integration, policy options, customary international law

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