Key points:
-Investor-state dispute settlement (ISDS) is among
the most controversial elements of trade and investment agreements. It
provides foreign investors with exceptionally powerful protections from laws, policies and other decisions of countries.
-The European Union has proposed to replace ISDS with a multilateral
investment court. The proposal should be evaluated by reference to
criteria of judicial independence, procedural fairness, balance in the
allocation of foreign investor rights and responsibilities, and respect
for domestic institutions.
-If the proposed court does not
satisfy these criteria, it is preferable to withdraw the special
protections for foreign investors in trade and investment agreements.
These protections are Exhibit A for how rules of the global economy have
been rewritten to favour large corporations and the super-rich at the
expense of the general public.
