International Centre for Settlement of Investment Disputes meaning

Honduras rejects the ICSID Convention In recent weeks, Honduras announced it would repudiate the international treaty under which it consented to submit disputes to the World Bank’s International Centre for Settlement of Investment Disputes (ICSD), better known as the ICSID Convention. The move followed the country being hit last year with nine distinct ICSID claims, among them a politically charged action brought by a US-based developer seeking up to US$10.7bn in compensation. Honduras now mirrors three other Latin American states that have denounced the ICSID Convention: Ecuador, Bolivia and Venezuela. Across Europe, parliament have also been keen to jettison investment arbitration in favour of a new investor court, promising reforms they believe could rebalance a regime that critics often say tilts towards investors. India, South Africa and New Zealand have likewise taken steps in recent years to curb their exposure to investor–state disputes, so at first sight it may seem these Latin American moves are part of a worldwide revolt against investor–state arbitration. Yet that impression would overlook a...

Climate change Climate change and the energy transition will continue to shape cross‑border disputes through the rest of this year and beyond. In investor–state arbitration, the tension has emerged because governments find themselves caught between competing imperatives, notes Christina G Hioureas, global co‑chair of Foley Hoag LLP’s international litigation and arbitration department and chair of its United Nations practice group. On the one hand, states owe duties under international law on climate, including commitments in accords such as the Paris Agreement. On the other, investors are bringing claims over measures aimed at cutting greenhouse gas emissions, for example limiting conventional oil and gas developments and winding down coal‑fired generation. Illustratively, the UK was served this month with a claim constituting its first climate‑related investor‑state dispute and its debut before the International Centre for Settlement of Investment Disputes. Reports indicate the case concerns the setting aside of a coal mine project in north‑west England. As Hioureas observed, many states are grappling with the same dilemma: striving to honour their obligations,...

International arbitration In this issue: International arbitration Institutional and ad hoc arbitration Hall, Moser & Wade: International Arbitration Handbook Other arbitration and ADR-related news and developments LexTalk®Arbitration: a Lexis®Nexis community Daily and weekly news alerts Useful information Australia—Enforcement of ICSID Awards and State Immunity In Blasket Renewable Investments LLC v Kingdom of Spain [2025] FCA 1028, the Federal Court of Australia assessed Spain’s claim to sovereign immunity in proceedings to recognise and enforce intra‑EU International Centre for Settlement of Investment Disputes awards. Spain argued the awards were not binding or enforceable as EU law bars intra‑EU investment arbitration. The court rejected this, ruling the awards are binding under Article 53 of the ICSID Convention and enforceable in Australia under Article 54, as Spain, by entering the Convention, consented to enforcement jurisdiction and thus waived immunity. The court also dismissed reliance on EU law to resist enforcement, and confirmed that assigning two awards to Blasket did not...

ARCHIVED: This Practice Note is archived and no longer maintained. For the 2019 tracker, refer to Practice Note: Investment treaty arbitration—2019—key arbitral awards and decisions tracker [Archived]. This Practice Note records details of notable awards and determinations issued by tribunals in investment treaty arbitration matters, chiefly those run by the International Centre for the Settlement of Investment Disputes (ICSID). It also includes pertinent awards and decisions from proceedings under the United Nations Commission on International Trade Law (UNCITRAL) Arbitration Rules and those overseen by other arbitral bodies, including the Arbitration Institute of the Stockholm Chamber of Commerce (SCC), the Permanent Court of Arbitration (PCA) and the International Court of Arbitration of the International Chamber of Commerce (ICC). Although investment treaty arbitration has no recognised doctrine of precedent, earlier rulings are frequently invoked by parties and considered by arbitral tribunals in their decisions. This Practice Note features only awards and decisions made public in 2018, though in some instances they may have been issued to the...

ARCHIVED: This Practice Note has been archived and is not maintained This Practice Note compiles the key awards and determinations delivered by tribunals in investment treaty arbitration, with a primary focus on matters administered by the International Centre for the Settlement of Investment Disputes (ICSID). It also encompasses pertinent awards and decisions arising from proceedings under the United Nations Commission on International Trade Law (UNCITRAL) Arbitration Rules and those overseen by other institutions, including the Arbitration Institute of the Stockholm Chamber of Commerce (SCC), the Permanent Court of Arbitration (PCA) and the International Court of Arbitration of the International Chamber of Commerce (ICC). Determinations by ad hoc Committees in ICSID annulment proceedings are likewise captured. Although investment treaty arbitration has no recognised system of precedent, earlier decisions are commonly cited by parties and considered by tribunals. This tracker is confined to awards and decisions made public in 2021, even where some may have been notified to the parties before 2021. For the earlier edition, see: Investment treaty arbitration—2020—key arbitral...

This Practice Note monitors significant awards and rulings delivered by tribunals in investment treaty arbitration, chiefly those run by the International Centre for the Settlement of Investment Disputes (ICSID). It also encompasses pertinent awards and decisions arising under the United Nations Commission on International Trade Law (UNCITRAL) Arbitration Rules and proceedings overseen by other institutions, including the Arbitration Institute of the Stockholm Chamber of Commerce (SCC), the Permanent Court of Arbitration (PCA) and the International Court of Arbitration of the International Chamber of Commerce (ICC). Determinations of ad hoc Committees in ICSID annulment cases are captured as well. Although investment treaty arbitration has no recognised doctrine of precedent, parties often rely on earlier decisions during their cases and tribunals frequently reference them in their reasoning. This Practice Note is confined to awards and decisions published in 2022, though in some instances they may have been notified to the parties before 2022. The previous tracker is available here: Investment treaty arbitration—2021—key arbitral awards and decisions tracker [Archived]. Note: ...