The International Institute for Sustainable Development has released a new book by Senior Fellow Konrad von Moltke: "An International Investment Regime? Issues of Sustainability."
Environmental activists are widely credited with (or condemned for) derailing negotiations for a Multilateral Agreement on Investment (MAI) in 1998. It took more than environmental opposition to stop the MAI, but since then it has been accepted wisdom that environmentalists are opposed to an international investment agreement. This study takes a hard look at that assumption. Its first conclusion is that an international investment agreement should be a priority for those interested in environment and sustainable development. The question then is: what kind of an investment agreement?
The history of investment negotiations over the past twenty years suggests that an international agreement aiming to foster sustainable development should not look much like the MAI (or the GATT). Principles such as national treatment-fundamental to trade regimes-turn out to be quite inappropriate for the needs of an investment regime. This book draws lessons from the experience in building international environmental agreements to suggest a new approach. It proposes a framework agreement on investment to which can eventually be appended a number of sectoral protocol agreements (for example on climate change, forestry, or the provision of services for that matter).
In publishing this study, IISD hopes to help relaunch the debate on an appropriate international investment regime. We are convinced that there is a great deal of useful work to be done in this area, much of which will benefit environment and sustainable development.
The book can be viewed as a PDF on line at http://iisd.ca/pdf/investment.pdf, or ordered at http://iisd.ca/about/prodcat/ordering.htm.
Aaron Cosbey Associate and Senior Advisor Trade and Investment International Institute for Sustainable Development Tel: +1 (403) 270-2700; Fax: +1 (403) 270-2694 Email: acosbey@iisd.ca Trade URL: http://iisd.ca/trade:
