Research Handbook on Sovereign Wealth Funds and International Investment Law
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Research Handbook on Sovereign Wealth Funds and International Investment Law

Edited by Fabio Bassan

Research on the role of sovereign investments in a time of crisis is still unsatisfactory. This Research Handbook illustrates the state of the art of the legal investigation on sovereign investments, filling necessary gaps in previous research. Current focus is based on investment flows and trends, grounded in economic scenarios and objectives. Conversely, investigations from a legal standpoint are still few, namely disregarding the host states’ concerns about sovereign investments goals and tools. Hence, most of the many relevant drivers that affect current sovereign investments, be they FDI or portfolio investments, remain unexplained. This book investigates the juridical foundation of sovereign investments and extends our frontier of understanding.
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Chapter 11: SWFs and human rights protection

Salar Ghahramani

Abstract

This chapter examines how sovereign wealth funds may pursue human rights principles through shareholder activism and explores the complicity and due diligence notions of SWFs under international norms. The chapter also investigates whether the standard of care should be the same or different from the highest standard utilized by state-owned enterprises and addresses the concept of ‘double contradiction’ in SWF activities: the potential conflict between pursuing rights-based objectives versus profit maximization. Positing that SWFs are state actors, the chapter concludes that the state’s legal obligations under international law must clearly trump the profit mandates of its SWFs.

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