Are Investments in Water Different? Sectoral Economics, Investment Treaty Architecture, and the Role of Governance
Governance of the Global Sanitation and Water Services Market, J Chaisse (ed.), 27-71
44 Pages Posted: 3 May 2017
Date Written: December 1, 2016
A notable feature of the investment treaty regime as it has developed is the way in which its rules generally apply to all covered ‘investments’ regardless of the sector in which the investment is made or the modality of investment. This one-size-fits-all approach to the application of investment treaties begs the question whether all investments ought to be treated alike and whether there is room for further state policy development and refinement in treaty drafting. The question that this chapter addresses is whether investments in water are different from other investments and whether they should be treated differently in international investment treaties.
Keywords: investment treaty; water; public services; triggers of breach; treaty architecture; investor-state arbitration
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