Why Public Policy Exceptions Have Not Delivered and How to Make Them More Effective

Abstract

The interpretation of public policy exceptions is proving to be one of the biggest conundrums of international investment law and makes the application of international investment treaties unpredictable. This Perspective explains why public policy exceptions have not reached their full potential and provides guidance on making them more effective.

Note: “Catharine Titi, ‘Why public policy exceptions have not delivered and how to make them more effective,’ Columbia FDI Perspectives, No. 374, January 8, 2024. Reprinted with permission from the Columbia Center on Sustainable Investment (http://ccsi.columbia.edu).”

Keywords: public policy exceptions, interpretation of exceptions, treaty exceptions, interpretation of treaty exceptions, essential security interests, interpretation of investment treaties, investment treaties, international investment agreements, IIAs, ISDS

JEL Classification: F02, F13, F21, F53, K41, K39, K40, K10, K33, K49, K12, K19, K20, K29, H70, E22, H87, F50, F52