Sustainable Trade, Investment and Finance
Show Less

Sustainable Trade, Investment and Finance

Toward Responsible and Coherent Regulatory Frameworks

Edited by Clair Gammage and Tonia Novitz

Sustainable development remains a high priority in international politics, as governments seek new methods of managing the consumption of resources while maintaining national economic growth. This timely book explores how the contours and facets of sustainability shape international laws and regulations that govern trade, investment and finance.'
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 11: Achieving sustainable development objectives in international investment law through the lens of treaty interpretation

Ying-Jun Lin

Abstract

This chapter aims to advance the discussion on how to implement sustainability objectives in existing investment treaties through treaty interpretation. Moving away from the focus on the interpretation of the concept of sustainable development or the term ‘right to regulate’ written into an investment treaty, this chapter argues that what is elementary to treaty interpretation is whether the interpretation process and final decision are approached in a balanced and inclusive way. This argument is based on the premise that sustainable development is a balanced concept, which encompasses social, economic and environmental concerns. Analysing the implementation of sustainable development objectives in international investment law through the lens of treaty interpretation, this chapter examines two distinct interpretative approaches. One is the balanced concept adopted by arbitrators, which conceives of sustainability as an inclusive, comprehensive consideration of all relevant concerns in decision making. The other is a creative revision of the reasonable person and government test. The reasonable person test paves the way to shape good governance and business practices in light of sustainability objectives in international investment law. This chapter suggests that sustainable objectives can provide a new benchmark to define the viewpoints and decisions of a reasonable investor or government.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.


Further information

or login to access all content.