President Gustavo Petro said that Colombia will pull out of investor protection treaties that allow foreign corporations to sue the State over perceived losses before international tribunals.
The funding arrangement enables Cadence and its subsidiary REM Mexico Limited to commence international arbitration against the Mexico under the UK-Mexico bilateral investment treaty.
We write to you as economists and legal scholars deeply concerned that investor-state dispute settlement (ISDS) poses a serious obstacle to building prosperous, equitable, and sustainable societies.
New data reveal that lawsuits filed by corporations against Latin American and Caribbean countries are increasing, undermining government efforts to implement policies that could benefit the energy transition, human rights and the environment.
Singapore-based energy developer Sinolam International has filed for arbitration before a World Bank international court against Panama following the cancellation of its licence for a gas-fired power generation project.