Since 2017, a reform process for ‘investor-State dispute settlement’ (‘ISDS’) has been ongoing at UNCITRAL Working Group III. This reform process promises to deliver the most significant changes to ISDS since the conclusion of the ICSID Convention in the 1960s. Figuratively speaking, there are different reform options on the negotiating table. The most prominent of these options is the creation of a ‘Multilateral Permanent Investment Court’. If it becomes a reality, it would create a new international court for investor-State disputes.
MPIL has observer status at UNCITRAL Working Group III. As per UNCITRAL rules of procedure and methods of work (addendum V), its role in this working group is to contribute expertise on legal issues within its area of competence. It fulfils this role by attending the sessional meetings, making interventions when they are helpful, and presenting research at the various side-events to the sessional meetings. Additionally, the lead delegate for the MPIL delegation is a member of the Academic Forum on ISDS, an organization through which academics contribute their research to the reform process.
MPIL primarily contributes to the reform process by advising State delegations on legal issues and providing them with MPIL-written scholarship. In the sessional meetings, MPIL has made interventions on topics that fall within its competence. Notably, during the discussion on damages and causation at the 46th session, MPIL’s intervention garnered support from numerous State delegations, a fact subsequently noted in the report for that session. In addition to its contributions during the session meetings, MPIL has produced publications on topics related to the reform process.
