Abstract

In the recent weeks, Spain has been at the centre of all the attention with various investors trying to enforce their arbitral awards in either US or English courts. Those awards share some similarities as they all relate to the cutting back the economic incentives for renewable energy projects. The recognition of those awards raises various questions such as the regulatory chill effect that ISDS can have on countries but also the place given to environmental concerns by arbitral tribunals. While there is no denying that investors must be protected, environmental concerns should also be ...