Author : Nathan Lobel
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (13 download)
Book Synopsis Investment Protection and Unburnable Carbon by : Nathan Lobel
Download or read book Investment Protection and Unburnable Carbon written by Nathan Lobel and published by . This book was released on 2019 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: To meet Paris Agreement commitments to hold global warming to 2oC above pre-industrial levels, governments must act to transition the world economy away from fossil fuels. Specifically, climate scientists warn that addressing climate change will require the vast majority of fossil fuel reserves to remain unburned. While ample scholarship has investigated and considered the ways in which potentially impacted stakeholders have fought decarbonization policies politically, there has been less focus on a powerful legal tool that allows investors to discourage policy adoption or win compensation from states for implementing climate regulations. For, the over 3,000 bilateral and multilateral international investment agreements, which together codify a vast and tangled web of commitments, contain provisions that protect foreign investors from state measures that substantially deprive or otherwise negatively impact the value of their investments. Given the carbon budget's implication that such negative impacts will necessarily result if warming is to be held to 2oC, these investment treaties stand to curtail states' abilities to fulfill Paris Agreement commitments. This article contributes to a small but growing body of work on the tensions between international commitments to decarbonize and commitments to protect foreign investments by connecting the dwindling carbon budget to the need to strand protected fossil fuel investments, and by providing a taxonomy of the ways in which a holistic range of climate policies could trigger disputes based on legal theories advanced in past cases. It also presents a brief menu of potential reforms to allow states to safeguard their abilities to mitigate climate change.