Analyses of the European Union and its member states’ proposals on reforming the ISDS system under the UNCITRAL working group III

The European Union and its member states back the formation of a permanent investment tribunal and a Committee of the Parties that would handle different tasks, including the selection of adjudicators. According to the European Union and its member states, the members of the investment tribunal should work on a full-time basis, and the selection criteria should prioritize the most qualified and unbiased individuals, regardless of their nationality. To expand the pool of potential adjudicators and promote diversity, they suggest adopting the entire language of Article 2 of the ICJ Statute for the qualifications requirements. The European Union and its member states do not support the idea of tribunal members being appointed by States that do not recognize the tribunal's authority.

This paper delves into the European Union and its member States' positions on certain fundamental issues related to ISDS reform, along with a comprehensive analysis of varying positions held by other stakeholders, including some members of UNCITRAL working group III who share similar viewpoints with the European Union and its member states on some matters and have differing opinions on others.

Keywords: ISDS, Reform, the European Union, UNCITRAL working group III