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Shifting Paradigms in International Investment LawMore Balanced, Less Isolated, Increasingly Diversified$
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Steffen Hindelang and Markus Krajewski

Print publication date: 2016

Print ISBN-13: 9780198738428

Published to Oxford Scholarship Online: April 2016

DOI: 10.1093/acprof:oso/9780198738428.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 12 April 2021

Investment Protection and Sustainable Development

Investment Protection and Sustainable Development

Key Issues

(p.19) I Investment Protection and Sustainable Development
Shifting Paradigms in International Investment Law

Giorgio Sacerdoti

Oxford University Press

This contribution is the introduction to the volume. As such this chapter reviews the concept of ‘sustainable development’ from the original underlying economic perspective and in the light of the international policy statements that have recognized it, looking at its variable legal content, highlighting the primary responsibility of local governments. International ‘protection’ granted to foreign investors reflects the idea that direct investment from abroad is good for development. Bilateral Investment treaties (BITs) have evolved through the decades, recognizing the need to balance the granting of protection with the freedom for host governments to pursue freely chosen development policies. They remain, however, by nature ‘static’, not instruments of flexible cooperation although their role could be enhanced.

Keywords:   Sustainable development, international investment protection, bilateral investment treaties, international economic cooperation, foreign direct investment

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