The Right to Regulate in International Investment Law
Since the inception of the international investment law system, investment promotion and protection have been the raison d'etre of investment treaties, and States have confined their policy space in order to attract foreign investment and protect their investors abroad. Languishing in relative obscurity until recently, the right to regulate has gradually come to the spotlight as a key component of negotiations on new generation investment agreements around the globe. States and regional organizations - including, notably, the European Union and the United States - have started to examine ways in which to safeguard their regulatory power and guide (and delimit) the interpretive power of arbitral tribunals by reserving their right to pursue specific public policy objectives. This book explores the status quo of the right to regulate in order to offer an appraisal and a reference tool for treatymakers, thus contributing to a better understanding of the concept and the broader discourse on how to enhance the investment law system's legitimacy. It will be a useful reference tool for treaty makers and those working in the field of international investment law.
Publication Date: 5/10/2014