The Role of the Precautionary Principle in Investment Arbitration: Did It Manage to Justify the Host States' Cautious Approach on Environmental and Climate Change Issues?
Article from: TDM 1 (2023), in Climate Change
The potential clash between the protection of the foreign investment and the environment has been frequently seen in the investment arbitration cases over the years. In several cases, the respondent State has tried to rely on the precautionary principle to justify its cautious approach in adopting the challenged environmental and climate change mitigation measures. The precautionary principle might be used as a useful tool for the States to defend their regulatory measures by leaving the States with wider policy space, particularly when the cases involve complex and uncertain scientific ...