by Edwina Kwan, Amanda Lees, Patric McGonigal and Nick Horton
The global energy transition to counteract the impacts of climate change has seen an enormous growth of investments into renewable energy projects around the world. With China pledging to be carbon neutral by 2060 and other countries following suit, there are extensive opportunities for investment in renewables. However, the changing regulatory, political, and technological environment of the renewable energy sector poses real risks for investors. These risks are likely to lead to an increase in disputes between investors, host countries and commercial contracting parties.
Below, we highlight some recent international disputes in the renewable energy sector and consider the impact of these cases, in particular the first case against Japan, for foreign investors in renewable projects.
NĐT – 14:37 | Thứ năm, 17/12/2020 “Thật thú vị khi nghĩ rằng gần 200 năm trước đã có một người đồng hương của tôi đến diện kiến Tả quân với nhiệm vụ cũng giống như của tôi hiện nay: thúc đẩy ngoại giao và thương mại giữa hai nước…” – Tổng lãnh sự Anh tại TP.HCM và Giám đốc Thương vụ Anh tại Việt Nam Emily Hamblin.
Khu Lăng Ông rộng khoảng 18.500 m2, tọa lạc giữa bốn con đường thuộc quận Bình Thạnh, TP.HCM: Phan Đăng Lưu, Trịnh Hoài Đức, Vũ Tùng, Đinh Tiên Hoàng. Từ ngày 16.9.2020, đường Đinh Tiên Hoàng (từ Cầu Bông đến giao lộ Phan Đăng Lưu) được đổi tên thành đường Lê Văn Duyệt. Ảnh: Thành NguyễnTiếp tục đọc “Thăm Lăng Ông, tìm lại những dấu chân Anh Quốc đầu tiên ở Sài Gòn – Gia Định”→
Vietnam’s Trade Minister Tran Tuan Anh (L) and Britain’s International Trade Secretary Liz Truss finalised a free trade pact which will see 99 percent of tariffs eliminated once it is fully implemented AFP/Nhac NGUYEN
HANOI: Britain and Vietnam on Friday (Dec 11) finalised a free trade agreement, the second deal London has reached in Southeast Asia in as many days while deadlock continues over post-Brexit European Union arrangements.
Aerial photo taken on April 8, 2020 shows the Xiaochantan dock in Yangpu, south China’s Hainan Province. As a state-level development zone established in 1992 in the northwest of Hainan, the Yangpu Economic Development Zone is expected to develop into a growth point of Hainan’s high-quality development and a pilot zone of Hainan free trade port. (Xinhua/Pu Xiaoxu)
BEIJING, Dec. 3 (Xinhua) — The State Council, China’s cabinet, has made arrangements to step up implementation of the Regional Comprehensive Economic Partnership (RCEP).
CCSI (Columbia Center on Sustainable Settlement, Columbia University) hosted an online discussion with George Kahale on issues surrounding valuation in ISDS disputes, which has become the most dangerous aspect of ISDS, as evidenced by the many enormous damages awards of recent years.
This discussion was open to all government officials, civil society, international organizations, and academics.
George Kahale is the chairman of Curtis, Mallet-Prevost, Colt & Mosle LLP. He has represented many governments and State companies in international transactions and disputes, including several of the world’s largest and best known international arbitrations.
People wave Taiwanese flags during the National Day celebrations in Taipei, Taiwan, on Oct 10, 2018. (Photo: Reuters/Tyrone Siu)
16 Nov 2020 12:03PM(Updated: 16 Nov 2020 12:10PM) CNA
TAIPEI: Trade-dependent Taiwan has made “relatively” good progress towards joining the revamped version of the Trans-Pacific Partnership, but it is awaiting clearer rules on membership, the island’s chief trade negotiator said on Monday (Nov 16).
Vietnam’s Prime Minister Nguyen Xuan Phuc (L) sits next to Minister of Industry and Trade Tran Tuan Anh as they watch a screen showing Chinese Minister of Commerce Zhong Shan (R) signing next to Chinese Premier Li Keqiang during the virtual signing ceremony of the Regional Comprehensive Economic Partnership (RCEP) Agreement during the 37th ASEAN Summit in Hanoi, Vietnam November 15, 2020. | Photo Credit: Reuters
Does investor protection increase foreign direct investment? A meta‐analysis
par Josef C. Brada, Zdenek Drabek, Ichiro Iwasaki
Abstract
We undertake a meta‐analysis of the effects of international investment agreements for the protection of foreign investors on foreign direct investment using 2107 estimates drawn from 74 studies. Our meta‐analysis finds robust evidence that effect of international investment agreements is so small as to be considered zero. However, our results do not rule out the possibility that the effect of these agreements is, in fact, positive and that current research methods are insufficiently powerful or precise to identify the underlying genuine effect. FDI from developed countries appears to be more responsive to the existence of investment protection, and there is evidence of publication–selection bias in favour of studies that find a positive effect for investor protection.
Does investor protection increase foreign direct investment? A meta‐analysis
Journal of Economic Surveys | 30 September 2020
Does investor protection increase foreign direct investment? A meta‐analysis
par Josef C. Brada, Zdenek Drabek, Ichiro Iwasaki
Abstract
We undertake a meta‐analysis of the effects of international investment agreements for the protection of foreign investors on foreign direct investment using 2107 estimates drawn from 74 studies. Our meta‐analysis finds robust evidence that effect of international investment agreements is so small as to be considered zero. However, our results do not rule out the possibility that the effect of these agreements is, in fact, positive and that current research methods are insufficiently powerful or precise to identify the underlying genuine effect. FDI from developed countries appears to be more responsive to the existence of investment protection, and there is evidence of publication–selection bias in favour of studies that find a positive effect for investor protection.
Japan backs ISDS in fierce debate at Energy Charter Treaty review
Reports on the Energy Charter Treaty process to ‘modernise’ continue to demonstrate entrenched opposition to efforts to make it support the Paris Climate Agreement to limit global warming to less than 2°C.
The European Union has proposed amendments that reinforce governments’ “right to regulate” on issues like public health and the environment. But any change requires unanimous agreement by the ECT’s 53 signatories.
On September 8, 2020, 97 European Parliament MPs and another 49 MPs from national parliaments in Europe content/uploads/sites/2/2020/09/Statement-on-Energy-Charter-Treaty-ENG_080920.pdf” target=”_blank” rel=”external noopener”>called for the “EU negotiators to ensure that the provisions in the ECT that protect foreign investment in fossil fuels are deleted and thus removed from the ECT. Similarly, ISDS provisions need to be scrapped or fundamentally reformed and limited. If this is not achieved at the end of the 3rd negotiation round planned for the autumn, we ask EU Member States to explore pathways to jointly withdraw from the ECT by the end of 2020”.
Investor-state disputes arising from COVID-19: balancing public health and corporate wealth
In response to the COVID-19 pandemic, governments globally are engaging in a difficult balancing act of protecting public health, mitigating economic damage and avoiding interference with private rights.
Even during a global pandemic, however, States are likely to be challenged for implementing measures that interfere with an investor’s private rights. Governments the world over have introduced COVID-19 prevention measures such as hard border closures, city and regional lockdowns, suspension of construction, production and mining, nationalisation of private industries and import and export restrictions.
Author: Thang Nam Do, ANUVietnam needs to address environmental challenges to fully reap the benefits from its new free trade and investment agreements with the European Union. On 8 June, Vietnam’s National Assembly ratified the EU–Vietnam Free Trade Agreement and Investment Protection Agreement, following the European Parliament’s approval in February. Ratifying the agreement clears the path for Vietnam to expand exports to the potentially lucrative EU market and to attract more investment from the economic bloc.
A frog meat processing line exported to the EU at Tân Thành Lợi Co., Ltd., in the southern province of Long An. — VNA/VNS Photo
HÀ NỘI — The free trade agreement between the European Union and Việt Nam, known as the EVFTA, which was signed on June 30 last year, will enter into force on August 1.
The announcement was made by the European Commission in a notice published on Tuesday.
The EVFTA will abolish 65 per cent of the duties on EU exports to its developing partner, with the remainder phased out over a 10-year period.
For Việt Nam’s exports to the EU, the EVFTA will also eliminate 71 per cent of export duties from August 1, and the rest will be eliminated over a seven-year period. Tiếp tục đọc “EVFTA to come into effect in a month”→
Beijing to ramp up investments in SE Asian country, to overcome barriers to its direct trade with EU
The EU, India’s second-largest export destination, accounted for about 17% of the country’s total outbound shipment. (Representative image)
Pandemic-hit Indian exporters, especially in labour-intensive sectors, are expecting their fortune to plummet further, as key competitor Vietnam has clinched a free trade agreement (FTA) with the EU.
The pact will raise competition between the Asian rivals for the lucrative EU market in a range of products such as garments, footwear, marine products, plastics, rubber, leather and coffee (See the chart). Importantly, Vietnam will get duty-free access to the EU for 71% of its goods from day one and 99% after seven years but Indian supplies will continue to attract up to 9.6% duty (the maximum, among the products from labour-intensive sectors, is on garments). Tiếp tục đọc “EU-Vietnam FTA: India’s labour-intensive export sectors to feel the heat, China may gain”→
Việt Nam đã gặt hái được nhiều thành công kinh tế trong năm 2019 và đang mong đợi một mùa bội thu trong năm nay 2020. Raymond Mallon, cố vấn kinh tế cấp cao đến từ Chương trình cải cách kinh tế Úc – Việt, phân tích những thành tựu và thảo luận về hành động ưu tiên cần thiết cho Việt Nam trở thành quốc gia thịnh vượng trong những thập kỷ tới.
Sự tăng trưởng của Việt Nam là 7% trong năm 2019 dẫn đầu là sự tăng trưởng trong ngành sản suất11,3%. Tổng sản lượng ngành công nghiệp tăng 8,9%, dịch vụ là 7,3% và nông nghiệp là 2%. Tăng trưởng đã đạt được ổn định trong kinh tế vĩ mô, bao gồm lạm phát dưới 3% và dự trữ ngoại hối tăng. Tỷ lệ thương mại và đầu tư nước ngoài của Việt Nam trong số cao nhất thế giới và tiếp tục tăng Tiếp tục đọc “Bài học cho tương lai thịnh vượng của Việt Nam”→
The Council today adopted a decision on the conclusion of a free trade agreement (FTA) between the EU and Vietnam. This decision clears the path, on the EU side, for the entry into force of the agreement.
Once the Vietnamese National Assembly also ratifies the FTA, the agreement can enter into force, most likely in early summer 2020.
This agreement is the second one we are concluding with a Southeast Asia country, after Singapore. It is also the most ambitious free trade agreement ever concluded with a developing country. We are opening up new trading opportunities, but we are also creating new tools to give impetus to the enforcement of basic freedoms and labour rights in Vietnam. Tiếp tục đọc “EU-Vietnam: Council gives final green light to free trade agreement”→
George Kahale III
Abstract
