Croatia has lost an international arbitration case launched by Hungarian oil and gas group MOL over Zagreb’s failure to fulfil obligations under an agreement about the gas business of the jointly owned Croatian oil company INA.
A tribunal awarded a sum of EUR 243 million plus interest to Bank Melli Iran and Bank Saderat Iran in their investor–state dispute against the Kingdom of Bahrain.
Experts took particular concern with the fact that most investment treaties do not oblige arbitrators to take into account international agreements on climate change when adjudicating cases.
Tan Tao Investment & Industry Corporation launched a billion-dollar arbitration proceeding against Vietnam under the agreement between the United States and the Socialist Republic of Vietnam.
UK-listed Ascent Resources and its Slovenian joint venture partner Geoenergo have initiated the mediation process under a dispute resolution mechanism.
Climate-related ISDS indicate a real risk that significant resources and energy may be diverted away from climate action, impacting the popularity of pro-climate policymaking among both policymakers and the public.