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No Greater Rights for Foreign Investors
No Greater Rights for Foreign Investors
Addressing International Investment Law’s Threat to Democracy and the Environment
Addressing International Investment Law’s Threat to Democracy and the Environment
AgendaAgenda
1) Issue: International Investment Law
2) Foreign investor rights
3) Investor-state arbitration
4) Reform investment law to protect communities
1) Issue: International Investment Law
2) Foreign investor rights
3) Investor-state arbitration
4) Reform investment law to protect communities
Shifting power from people to profitsShifting power from people to profits
Domestic lawsPeople have rights
Remedies go both ways
Heard in the national courts
Domestic lawsPeople have rights
Remedies go both ways
Heard in the national courts
PEOPLE
Shifting power from people to profitsShifting power from people to profits
Investment TreatyInvestors have rights
Remedies for investors only
Heard in international
tribunal
Investment TreatyInvestors have rights
Remedies for investors only
Heard in international
tribunal
Domestic lawsPeople have rights
Remedies go both ways
Heard in the national courts
Domestic lawsPeople have rights
Remedies go both ways
Heard in the national courts
PEOPLE PROFITS
Foreign Investor Rights
Non-discriminatory treatment:- Same as national investors- Same as other foreign investors
Compensation for direct/indirect expropriation:- Money to investor for physical confiscation- Money to investor for decrease in value due to a policy
Fair and equitable treatment (FET): - Vague and expansive- arbitrators will define- Recent interpretations: Not upset investor expectations,
e.g. by changing laws
Investor-State ArbitrationInvestor-State Arbitration
Domestic Courts
International Arbitration
Judges Elected or appointed judges
Procedure Domestic courts and rules
Decisions Appeals process
Investor-State ArbitrationInvestor-State Arbitration
Domestic Courts
International Arbitration
Judges Elected or appointed judges
Selected arbitrators
Procedure Domestic courts and rules
Decisions Appeals process
Investor-State ArbitrationInvestor-State Arbitration
Domestic Courts
International Arbitration
Judges Elected or appointed judges
Selected arbitrators
Procedure Domestic courts and rules
International sites and arbitration rules
Decisions Appeals process
Investor-State ArbitrationInvestor-State Arbitration
Domestic Courts
International Arbitration
Judges Elected or appointed judges
Selected arbitrators
Procedure Domestic courts and rules
International sites and arbitration rules
Decisions Appeals process Binding and final
What does “LOSING” mean to a country?
What does “LOSING” mean to a country?
Pay $$$ claimed by the foreign investor
Agree to stop public policy?+
Reform Options
• Make investors go to local courts first
• Withdraw from ICSID
• Exclude the really important laws
• Cut out investor-state arbitration
What can you do?What can you do?• Ask Congress to sign on to a letter to Hillary Clinton
requesting that the US not side with DRP on the Renco Dispute
• Educate on need to reform US investment agreements
• Spread word in local community:– visit the PCUSA website (live links to sermons and further
fact sheets)– visit the OxFam website (e-Action)– visit www.justinvestment.org
• Ask Congress to sign on to a letter to Hillary Clinton requesting that the US not side with DRP on the Renco Dispute
• Educate on need to reform US investment agreements
• Spread word in local community:– visit the PCUSA website (live links to sermons and further
fact sheets)– visit the OxFam website (e-Action)– visit www.justinvestment.org
For more information:
PCUSA website:www.pcusa.org/trade
For more information:
PCUSA website:www.pcusa.org/trade