UNCTAD’s IIA Reform Accelerator - a new tool to facilitate investment treaty reform12 Nov 2020
UNCTAD’s newly released IIA Reform Accelerator aims to expedite the modernization of the existing stock of 2,500 old-generation IIAs in force today.
The Accelerator responds to the need for change of substantive aspects of the IIA regime by focusing on a selection of reform-oriented formulations for eight key IIA clauses (including fair and equitable treatment, and indirect expropriation provisions). The IIA Reform Accelerator identifies ready-to-use model language, accompanied by recent IIA and model BIT examples.
Building on UNCTAD’s Investment Policy Framework, the IIA Reform Accelerator provides a tool for coordination, focused discussion and consensus-building on joint reform actions between multiple countries. It can be used for joint interpretation, amendment or replacement of old treaty provisions.
The importance of reforming the stock of old-generation treaties becomes particularly apparent in times of crisis, such as the COVID-19 pandemic the world is facing today. The IIA Reform Accelerator will also inform discussions at the Virtual IIA Conference 2020 “IIA Reform in Times of COVID-19” on Thursday, 26 November, 11:00 to 14:00 Geneva time (registration is open until 18 November).