Conference on Canadian Strategy for the UN GPs Ryerson University, May 8 th 2014 Stéphanie Gervais

Similar documents
New model treaty to replace 79 existing Dutch bilateral investment treaties

Managing Political Risk in Latin America

PANEL I : Tax Treaties: opportunity or source of inequality?

CHAPTER I - DEFINITIONS. Article 1. For purposes of this Instruction and as used herein:

INDONESIA S EXPERIENCE: IIA REVIEW A B D U L K A D I R J A I L A N I M I N I S T R Y O F F O R E I G N A F F A I R S

On the Low Success Rate of Investor-State Disputes

Consultation notice. Introduction

2010/IEG/WKSP1/002 Overview of IIAs and Treaty-Based Investment Disputes

EU LAW AND ENERGY DISPUTES

Seminar E IFA/OECD. The Multilateral Instrument IFA & OECD 2017

17 th Investment Treaty Forum

Law No. 116 of 2013 Regarding the Promotion of Direct Investment in the State of Kuwait

Report of the Finance and Expenditure Committee

On Innovative Path for BIT Practice

Pros and Cons of BITs for Developing Countries

Environmental (and Social) Standards, and the Risks of Investor-State Dispute

2011 Winston & Strawn LLP

I. The OIC Agreement. On the subject of the OIC Agreement, the article deals with the two following headings:

European Parliament Hearing on Foreign Direct Investment

EU and WTO/TRIPS & FTAs: Hard Standards and Flexibilities

The Work of the UN Tax Committee

GENERAL DATA PROTECTION REGULATIONS PRIVACY NOTICE

Spend No More Than You Make Borrow Only What You Can Afford To Pay Back If It s Not Broken, Don t Fix It. But If It s Not Working, Get Rid Of It The

Compensation for Expropriations in Investor State Disputes

Gas Strategies Interview: Ana Stanic, founder of E&A Law

Luxemburger Juristische Studien Luxembourg Legal Studies. Daniel Rosentreter

GENERAL TERMS AND CONDITIONS SPORT & CAREERS PROGRAMME

Event 1. Module 3. Key Elements of IIAs and their impact on domestic reform Session Two: The rules of the game on investment incentives

Reforming the IIA System: Investment Arbitration in Asia-Pacific and ASEAN

c t PAYDAY LOANS ACT

Introducing ICSID. International Centre for Settlement of Investment Disputes. The global leader in international investment dispute settlement

Option Account Application and Agreement

KEM-LIN FASHIONS CC Appellant

Role of the State on Protecting the System of Arbitration

Canada Jumps on the Bilateral Bandwagon

IFC Trust Funds Trust Fund Annual Report. Overall Trends. its standard-setting, and its work to promote a business-enabling environment.

Bilateral Advance Pricing Agreement Guidelines

Option Account Application and Agreement

FROM ISDS TO ICS: A LEOPARD CAN T CHANGE ITS SPOTS

Coffee time ACCoUNt terms & CoNDitioNS Coffee Time Terms of Use Agreement About Your Gift Card Account: Coffee Time Purchases Only

International Tax - Europe & Africa Newsletter

Information on the processing of personal data

Published by the International Institute for Sustainable Development

Vale Columbia Center on Sustainable International Investment New York February 14, 2013

ALL SPORT LEGAL DEFENSE EXPENSES COVERAGE FORM

EMERGING ISSUES IN INTERNATIONAL TAXATION CHALLENGES AND WAY FORWARD PATIENCE T. RUBAGUMYA COMMISSIONER LEGAL SERVICES AND BOARD AFFAIRS

IN THE MATTER OF THE SECURITIES ACT R.S.O. 1990, c. S.5, AS AMENDED. and

The Mining Contract Process

10th Anniversary Edition The Baker McKenzie International Arbitration Yearbook. Peru

1. We add the following new sections to the TERMS AND CONDITIONS APPLICABLE TO ALL ACCOUNTS :

Foreign Investments in Emerging Markets

Multi-year Expert Meeting on Investment, Innovation and Entrepreneurship for Productive Capacity-building and Sustainable Development, fourth session

AMERICAN INTERNATIONAL COMMERCIAL ARBITRATION COURT REGULATION "ON THE PROCEDURE OF ORGANIZATION AND CONDUCT OF "AD HOC" ARBITRAL PROCEEDINGS"

The EU s approach to Free Trade Agreements Investment

Opening remarks: Discussion on Investment in TTIP

managing risk in cross-border investment

Bursting policy bubbles: The international investment treaty regime

CONFERENCE ON INTERNATIONAL INVESTMENT ARBITRATION SUPREME COURT OF SINGAPORE 20 JANUARY 2010 WELCOME REMARKS BY CHIEF JUSTICE CHAN SEK KEONG

Note: G20 includes only the 19 member countries (excludes European Union).

The Government of the Hashemite Kingdom of Jordan and the Government of the Italian Republic (hereafter referred to as the Contracting Parties)

IIA UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT ISSUES NOTE

AGREEMENT BETWEEN THE GOVERNMENT OF CANADA AND THE GOVERNMENT OF THE REPUBLIC OF POLAND FOR THE PROMOTION AND RECIPROCAL PROTECTION OF INVESTMENTS

Terms of Business for Registered Providers

11th. Edition The Baker McKenzie International Arbitration Yearbook. Peru

Henry Burnett (Harry)

1. This is the Canada Country Addendum to the UOB Business Internet Banking Service Agreement.

SYSTEMIC ISSUES IN INTERNATIONAL INVESTMENT AGREEMENTS (IIAs)

Should Australia agree to investorstate dispute settlement in the Trans-Pacific Partnership?

Treaty Claims vs. Contract Claims: Uncertainty is Certain

CASE AT CDS INFORMATION MARKET MARKIT COMMITMENTS OFFERED TO THE EUROPEAN COMMISSION

Does Business Really Care About What Model To Follow?

EU PROPOSAL FOR A MULTILATERAL REFORM OF INVESTMENT DISPUTE RESOLUTION POSITION PAPER BY THE CENTER FOR INTERNATIONAL ENVIRONMENTAL LAW (CIEL)

SUMMARY OF SHAREHOLDER RIGHTS AND IMPORTANT ASPECTS IN WHICH THE COMPANY S CONDUCT DEVIATES FROM THE SWEDISH CORPORATE GOVERNANCE CODE

TiSA: Analysis of the EU s Dispute Settlement text July 2016

Kişladağ Update March 2018

Payday Loans Act. BE IT ENACTED by the Lieutenant Governor and the Legislative Assembly of the Province of Prince Edward Island as follows:

Form F1. Take-Over Bid Circular

TERMS AND CONDITIONS GOVERNING PERSONAL LOAN

New Account Application. Direct Communication Rule 14b-1(c) W-9 Certification. Signatures

OSISKO MINING CORPORATION - YAMANA GOLD INC. ANNOUNCE PARTNERSHIP. Superior Value for Shareholders

Direct and indirect expropriation

INVESTMENT POLICY FRAMEWORK INVESTMENT POLICY FRAMEWORK FOR SUSTAINABLE DEVELOPMENT

MOROCCO'S EXPERIENCE IN NEGOTIATING BILATERAL INVESTMENT TREATIES (BIT) (EVOLUTION OF CONTENT OF MOROCCAN BITS)

WILL THE NEW EU INSTITUTIONS ADDRESS THE CONCERNS OF THE INDUSTRY?

Arbitration under Tax Treaties

In the matter of an arbitration under the UNCITRAL Arbitration Rules. between

Prevention & Management of ISDS

Financial Markets Lawyers Group. The British Bankers Association EMU PROTOCOL. published on 8 th October, 1998

SYLLABUS. Course: Transnational Petroleum Law in Latin America Time: 6:00pm-7:30pm M-W Location:

Commentaries on Selected Model Investment Treaties. Edited by CHESTER BROWN

Business Terms & Conditions for the Loro Account

Letter from CELA page 2

European Parliament resolution of 6 April 2011 on the future European international investment policy (2010/2203(INI))

ENERGY EFFICIENCY CERTIFICATION SERVICES SERVICE TERMS

The Trade Opportunities Program Regulations

Centerra Gold Inc. Condensed Consolidated Interim Financial Statements. For the Quarter Ended June 30, 2014 (Unaudited)

P R O T O C O L ARTICLE I

FREQUENTLY ASKED QUESTIONS CIRCULAR LETTER OF BANK INDONESIA ON IMPLEMENTATION OF NON-BANK FOREIGN EXCHANGE BUSINESS ACTIVITIES

From Sea to Sea: Regulatory Space of Federal and Provincial Governments in Canada under CETA and TPP Investment Chapters

Both the Union and the member states would become members of the Convention.

Transcription:

Conference on Canadian Strategy for the UN GPs Ryerson University, May 8 th 2014 Stéphanie Gervais 1

Evaluate implementation of UN Guiding Principles in extraterritorial business activities: Promoting the state s duty to protect human rights. Implementation challenges in the mining sector: Intersection of ESCRs and CPRs. Lack of mobility. Pressure by investors to pursue projects. Investors protected against new regulations through investment treaties. Launch arbitration proceedings when states breach treaties. 83% cases of related to extractives & the majority in Latin America. 2

9. States should maintain adequate domestic policy space to meet their human rights obligations when pursuing business-related policy objectives with other States, for instance through investment treaties. Commentary [ ] the terms of investment agreements may constrain States from implementing human rights legislation, or put them at risk of binding arbitration if they do so. 3

What are the impacts of International Investments Agreements (IIAs) on the fulfillment of the of UN Guiding Principles on Business and Human Rights in the extractive sector of Latin America? Are Canadian Investment Agreements in line with the United Nation s Guiding Principles on Business and Human Rights? 4

Ensures changes in domestic law are not applicable to investors (IFC, 2008). Example: Expropriation clauses : Policy has brought additional costs on operations, forcing the company to leave. The UN High Commissioner for Human Rights: could affect States willingness or capacity to introduce new measures to promote and protect human rights (UNESC, 2003). 5

Definition: States forego needed legislation that might negatively affect the value of foreign investment, rather than risk potential liability (Gross, 2003). Fear of costs attached to complaints being filed against them by investors. Observed in cases where policies are already set in motion or expressed as an intention by governments. Example: Anti-mining legislation in Indonesia repealed after threats by mining companies of filing suits under the IIAs (Suda, 2005). 6

Policy: Moratorium on open-pit mines & reject Environmental Impact Assessment (EIA) to protect the Constitutional provision on right to a healthy environment (Tienhaara, 2010). Arbitration proceedings: Filing suit for sudden changes in policy causing breach of fair treatment of Canada-Costa Rica BIT (Tienhaara, 2010). Government granted extraction permit and later revoked it. Infinito Gold Ltd. seeking award of $1 billion (Newswire, 2013). 7

Incorporate human rights language in IIAs: Address intersections between investment and the right to regulate in favor of human rights. Create obligations for investors like impact assessments and mechanisms to enforce obligations. Clarify scope of the expropriation and national treatment clauses: Course of action when states refer to human rights as defense (Suda, 2005). 8

Reflect need for investors to assess risks: Creating a certainty over costs incurred by launching of suits. Creation of unified platform: Consolidate claims for predictable interpretation of the law (UNTAD, 2012). Create a treaty interpretation tool: Offer authoritative treaty interpretation to determine types of human rights regulations are a cause for breach (Suda, 2005). 9

Hurdles for pro-human rights governments due to the high costs. Contrary impact of IIAs: dissuade states from allocating exploration permits? Enforcement of Calvo Doctrine in UN GPs (Anderson, 2013): Protect sovereign right to regulate in favor of public interest. Require investors to use domestic courts to hear their claims. Withdrawal of investment treaties or treaty freeze (Indonesia, South Africa, Argentina, etc.) Canada should be conscious of GP #9 and ensure that signatory parties for IIAs are retaining adequate policy space to regulate in favor of human rights. 10

Send me your questions and comments Email: stephanie.gervais@carleton.ca Twitter: @stefgervais Investment Treaties and Human Rights: Mining in Latin America, 11