Enagás considers that the future dividends of this project amount to 186 million dollars that would be added to the almost 400 million that it hopes to recover from the other arbitration.
The analysis of the existing approach adopted by tribunals does not give rise to much hope of ICSID tribunals’ ability to understand and apply the principle of sustainable development.
Talks on a possible COVID-19-related TRIPS decision aimed at scaling up vaccine and therapeutics production and equitable distribution continue but investment agreements are absent from them.
In a final award, dated January 25, 2021, an ICSID tribunal ordered Spain to pay damages to German investors in compensation for the clawback of a subsidy regime.
The Croatian government okayed the out-of-court settlement between Croatia and the American Colgate McCallum investment management company, which will see Croatia pay €40m to the company.
Under the Energy Charter Treaty, investors can sue governments for loss of future profits. Champions say this will be an ‘indispensable tool’ for the green transition.