International Investm - ent Law and ISDS:

Paying Polluters Cannot Be the Price for the Implementation of Climate Obligations In the face of a clear political and scientific consensus on the causes of climate change and its grave consequences for human rights, States have a legal duty under international law to act to prevent and mitigate further foreseeable harm. [...] Boyd (Special Rapporteur on the Issue of Human Rights Obligations Relating to the Enjoyment of a Saf, Clean, Healthy and Sustainable Environment), Paying Polluters: The Catastrophic Consequences of Investor-State Dispute Settlement for Climate and Environment Action and Human Rights, A/78/168 (July 13, 2023), undocs.org/A/78/168. [...] Special Rapporteur on the Promotion and Protection of Human Rights in the Context of Climate Change, Promotion and Protection of Human Rights in the Context of Climate Change Mitigation, Loss and Damage and Participation, A/77/226 (July 26, 2022), para. [...] 3 (2023)2/en/pdf improving transparency and addressing conflicts of interest among arbitrators.12 However, these efforts fail to address the core and structural issue: the protection of GHG- intensive investments and the financial burden on States implementing climate policies. [...] What Can States Do Within the UNFCCC Process and Under Their National Climate Policies to Tackle This Challenge? Without coordinated and comprehensive reform, the chilling effect of ISDS will continue to deter States from implementing necessary climate measures, undermining the objectives of the Paris Agreement and delaying the transition to a low-GHG, fossil-free economy.