Rights of indigenous peoples on the impact of international investment and free trade on the human rights of indigenous peoples 2015, para. 16
Paragraph- Paragraph text
- Investors have direct access to such mechanisms with regard to any dispute that may arise within the context of international investment agreements, and, under provisions in international investment agreements, are not obligated to exhaust domestic remedies beforehand, thereby eliminating any form of judicial review. The non-judicial tribunals can award compensation to investors if the State is judged to have violated clauses in the investment treaty. There are no limitations on the financial awards that can be made. The United Nations Conference on Trade and Development (UNCTAD) reported that in 2014 a State was compelled to pay $50 billion to a corporation relating to three closely linked cases. Such decisions cannot be appealed and are strictly binding upon States parties. Retroactive compound interest can be charged to States, at commercial rates, from the date of the measure that is being challenged within an investor-State dispute settlement case. It is reported that in one instance, a State party was instructed to pay $589 million in interest as part of a billion dollar award to a corporation.
- Legal status
- Non-negotiated soft law
- Body
- Special Rapporteur on the rights of indigenous peoples
- Document type
- Special Procedures' report
- Means of adoption
- N.A.
- Topic(s)
- Governance & Rule of Law
- Person(s) affected
- Ethnic minorities
- Year
- 2015
- Paragraph type
- Other
- Reference
- SR Indigenous Peoples, Report to the UNGA (2015), A/70/301, para. 16.
- Paragraph number
- 16
sorted by
Date added
96 relationships, 96 entities