Fostering Environmental Governance and Green Regionalism within the ASEAN Investment Treaty Framework 

 

Abstract

This article examines the 'green regionalism' concept to analyze the trajectory of the investment-environmental sustainability nexus within the ASEAN investment treaty regime. Although the ASEAN investment agreements have incorporated environmental provisions to support environmental sovereignty, these provisions are often restricted and exceptional. The article expands on the paradigm of green regionalism by differentiating between 'light green' and 'dark green' regionalism to address varying levels of commitment to environmental sustainability. It argues that the ASEAN investment treaty regime demonstrates merely 'light green' regionalism. The article presents a framework for 'greening' the ASEAN investment treaty regime that focuses on six key aspects: (1) reconceptualizing investment treaties (2) strengthening environmental commitments of states (3) empowering states to implement environmental measures (4) promoting responsible business conduct among investors (5) enhancing enforcement mechanisms and (6) improving investment facilitation and market access.