The overreach on display in the aggressive use of ISDS lawsuits by multinational corporations is just one part of a broader trend in recent decades in which the ability of states to regulate their economies in their own interests.
A plurilateral “interpretative statements,” whereby governments endorse joint statements clarifying and defining their positions on contentious clauses in their existing investment treaties would be a practical, flexible and low-cost option.
The Working Group’s focus was structural reforms, first selection and appointment of permanent or fixed-term adjudicators, then an appellate mechanism.
The EU and Canada adopted four decisions putting in place the Investment Court System provisions agreed in the EU-Canada Comprehensive Economic and Trade Agreement (CETA).
Michigan Journal of International Law | 27-Oct-2020
The problem with the ISDS is not the format of the dispute settlement. The problem is that it is designed to give corporations power to go after government policies.