Europe

European Union (EU) member states have signed over 1300 investment treaties with third countries, in addition to some 200 between EU members. Non-EU European states are party to over 500 treaties. Most of these contain investor-state dispute settlement (ISDS) provisions, which enable foreign corporations to take ISDS claims against states if they deem their profits or potential investment to be affected by new laws or changes in policy.

The EU has ratified four agreements with an ISDS mechanism: the Energy Charter Treaty (ECT), to which 53 European and Central Asian countries are party, the Comprehensive Economic Trade Agreement (CETA) with Canada, and agreements with Vietnam and Singapore. Only the ECT has been fully in force. The ISDS provisions in the three others will be implemented after all member states have ratified them.

These three deals also include a revised ISDS mechanism created by the European Commission, known as the investment court system. Many critics say that this new system is largely window-dressing and does not address the core of the problem behind investor-state dispute measures.

In 2015, the European Commission asked the EU member states to terminate their intra-EU bilateral investment treaties (BITs), arguing they are incompatible with EU law, which was confirmed by the Court of Justice of the European Union in its “Achmea” decision.

As of April 2020, the number of intra-EU ISDS disputes amounted to 170, approximately 17% of all cases globally, 76 of which having been brought under the ECT.

Overall investors from European countries have initiated over 600 ISDS cases, half of which are against non-European states. European countries have been targeted in about 350 cases. Grouped together, investors from EU member states have launched the majority of total disputes (over 400).

Spain, the Czech Republic, Poland, Russia and Ukraine have been among the ten most frequent respondent states, while the Netherlands, the United Kingdom, Germany, Spain, France, Luxembourg, Italy and Switzerland have been among the ten most frequent home states of the investor.

The most well-known cases include:

Yukos (Isle of Man) vs. Russia: US$50 billion awarded in 2014 to majority shareholders of the oil and gas company (ECT invoked).

Eureko (Netherland) vs. Poland: case settled in 2005 for about €2 billion in favour of the investor, a large European insurance company (Netherland-Poland BIT invoked).

Ceskoslovenska Obchodni Banka (Czech Republic) vs. Slovak Republic: €553 million awarded in 2004 to the investor, one of the largest commercial banks in the Czech Republic (Czech Republic-Slovak Republic BIT invoked).

(April 2020)

EurActiv | 15-Jan-2015
Paris et Berlin ne veulent pas d’un mécanisme de règlement des différends en l’état au sein du traité transatlantique (TTIP) et négocient des propositions communes pour faire évoluer le dispositif.
EurActiv | 15-Jan-2015
The two countries are discussing throwing their combined weight behind a common position to exclude an Investor State Dispute Settlement mechanism from trade talks with the US
Stop TTIP and TTIP Unfairhandelbar | 14-Jan-2015
An overwhelming majority of Europeans has spoken out against ISDS in the Transatlantic Trade and Investment Partnership
Le Monde | 13-Jan-2015
The consultation on investor arbitration that the European Commission launched in Spring 2014 delivered an unambiguous verdict: today, public opinion does not want it.
Le Monde | 13-Jan-2015
La consultation lancée par la Commission européenne au printemps 2014 sur les arbitrages d’investissement, et dont elle n’a rendu les conclusions que mardi 13 janvier, a livré un résultat sans nuances : l’opinion publique, aujourd’hui, n’en veut pas.
EU Commission | 13-Jan-2015
Today, the European Commission published its analysis of the almost 150,000 replies to its online consultation on investment protection and investor-to-state dispute settlement (ISDS) in the Transatlantic Trade and Investment Partnership (TTIP).
EurActiv | 13-Jan-2015
La commission du commerce international du Parlement européen s’oppose clairement au mécanisme de règlement des différends entre investisseurs et États, une clause intégrée au TTIP.
Le Monde | 27-Dec-2014
La timidité du gouvernement français a conduit à laisser l’Union européenne avaliser un choix qu’elle regrettera peut-être dans quelques années : l’inclusion d’un mécanisme d’arbitrage privé dans l’accord commercial CETA.
La Dépêche | 19-Dec-2014
C’est avec le slogan «Tafta, assez de cadeaux à Veolia» qu’une trentaine de militants du collectif Stop Tafta (qui réunit Attac, des syndicats et des partis de la gauche radicale) ont pénétré dans l’agence commerciale de Veolia à François-Verdier, hier en fin de matinée.
EurActiv | 16-Dec-2014
Gus Van Harten tells EurActiv that the EU should explore the option of an international arbitration court and use Australia, not Canada as a benchmark.

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