Transparency - A Sequel

UNCTAD Series on Issues in International Investment Agreements II

image of Transparency - A Sequel
Section I of the book contains an explanation of the concept of transparency as it is understood in the context of international investment agreements. Section II provides a review of current treaty and arbitral practice with respect to transparency issues. Section III analyses the interaction of transparency obligations with other related issues. The final section of this paper contains a series of policy options available to IIA negotiators and those involved in revising arbitral rules. In this final section, the paper also briefly discusses the implications of those options for host State development considerations so as to assist with negotiator decision-making on whether or not to include transparency provisions in IIAs, and, if so, which formulation to insert into new agreements.



Executive summary

The aim of this paper is to update the first edition of UNCTAD's Pink Series paper on transparency. It seeks to examine (i) the way in which traditional transparency issues have been addressed in international investment agreements (IIAs) since 2004, (ii) the emergence of investor responsibilities as a consideration within transparency issues, and (iii) the introduction of a transparency dimension into investor-State dispute settlement (ISDS). In analysing these issues, this paper outlines possible sustainable development implications of the different transparency-related formulations used in IIAs and points to some of the most progressive provisions that are appearing more frequently in investment instruments.


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