“De Zayas emphasised that ISDS had created a ‘regulatory chill’ forcing back social legislation and preventing environmental protection measures out of fear of being sued for billions of dollars before ISDS tribunals. He outlined cases in Canada, Germany, the United States and Colombia.”
The Parliamentary Assembly of the Council of Europe held a hearing on 19 April to debate the compatibility of privatised dispute settlement mechanisms in trade agreements, particularly in the context of the ongoing negotiations under Trans-Atlantic Trade and Investment Partnership (TTIP), and their compatibility with human rights.
A document accessed by Firstpost reveals that a report is being compiled based in part on a hearing on the ‘Human rights compatibility of investor–State arbitration in international investment protection agreements’, an initiative led by Parliamentary Assembly member Pieter Omzigt, which is to be submitted to the Council of Europe in 2017. The report will explore the following topics: a proliferation of arbitration clauses in bilateral and multilateral trade deals; effect of investors’ activities on health, environment protection and labour rights; fair and equal (FET) clauses in trade deals; the usefulness of human rights impact assessment; achieving a balance between concerns of investors and…
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