Edited by Kate Miles
Chapter 11: Green multilateralism: ‘mega FTAs’ and the changing interface between environmental regulation and investment protection
This chapter considers the ways in which the objectives of protecting the environment and promoting economic development are being balanced in the new generation of multilateral investment treaties. Using the example of the Trans-Pacific Partnership (TPP11), it looks at how multilateral treaties are being drafted to ensure states can legitimately regulate in the area of environmental protection without exposing themselves to liability for treaty violation. As part of its analysis of this trend in treaty practice – which the writer terms ‘green multilateralism’ – the origins of the investment treaty system are discussed, along with specific topics such as the defences available to respondent States under customary international law, the content of the fair and equitable treatment standard and the potential for ‘mega-FTAs’ such as the TPP11 to improve the current system of investor-State dispute settlement.
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