New data released by UN Trade and Development (UNCTAD) show that more than 400 investor–State arbitration cases were initiated under investment treaties between 2020 and 2025. The updated information is publicly accessible through UNCTAD’s Investment Dispute Settlement Navigator, which now includes a total of 1,463 treaty-based investor–State dispute settlement (ISDS) cases as of 31 December 2025.

The ISDS Navigator covers treaty-based cases administered by the International Centre for Settlement of Investment Disputes (ICSID) as well as cases conducted outside ICSID, drawing on public sources and specialized reporting services. The latest update includes newly filed cases, decisions issued by ISDS tribunals, and arbitrator appointments.

This update will help policymakers and stakeholders stay informed about developments in investor–State disputes arising under international investment agreements (IIAs). Insights from ISDS cases also play a role in the context of ongoing efforts to reform the IIA regime, including evolving approaches to the ISDS mechanism.

Key findings of this update

• Claimants brought at least 56 publicly known arbitration cases against States in 2025 pursuant to IIAs.
• Since 2022, the annual ISDS case filings have stayed below the levels recorded from 2015 to 2021.
• By the end of 2025, the cumulative number of known treaty-based cases had reached 1,463.

A detailed analysis of recent ISDS trends will be presented in the World Investment Report 2026, to be published later this year on unctad.org.

Investment Dispute Settlement Navigator database (click here)

About the ISDS Navigator (click here)

Note: Annual and cumulative ISDS case numbers are subject to retroactive upward adjustments over time, incorporating previously unknown cases that surfaced after delays. As some arbitrations can be kept fully confidential, the actual number of cases filed in any given year is likely higher than the publicly reported number.