We civil society organizations and trade unions from the African continent express our concerns about the proposal presented by the European Union to establish a multilateral investment court and support further reaching reforms of ISDS.
The UNCITRAL Working Group III turned squarely to designing permanent institutions: a standing appellate mechanism and a multilateral investment court (MIC).
In investor–state dispute settlement (ISDS), ironies do occasionally occur. Sometimes they’re bitter. Sometimes they’re carbon-intensive. Sometimes they’re radioactive.
In the end, states have the power to decide collectively what reforms to pursue, in what order and in what form. Individually, they will also have choice about which particular reform options to adopt.