UN Research Shows Average ISDS Case Costs State $545 million
This UN research on ISDS from 2016, shows that “The average amount awarded was $545 million and the median $20 million” (see page 5). Read the full report here: https://unctad.org/system/files/official-document/diaepcb2017d1_en.pdf
The United Nations report on ISDS states that, of the cases taken by businesses and business people, against governments, in a private quasi – judicial arbitration mechanism known as investor-state dispute settlement (ISDS): “The wording of specific treaty provisions is a key factor in case outcomes, underlining the importance of balanced and careful treaty drafting” (see page one).
This is important for those who support the European Union’s ‘precautionary principle’, as the term does not appear anywhere in the text of the EU-Canada free trade and investment agreement known as CETA. Instead, the sanitary and phytosanitary (SPS) measures in CETA and all other relevant parts of it, instead make reference to the ‘scientific method’.
To find out why losing the ‘precautionary principle’ and using the ‘scientific method’ instead, will mean many of our health and safety protection will be deemed by CETA’s committee’s and its proposed investment court as ‘unnecessarily restrictive barriers to trade’, read on:
CETA and TTIP threaten the EU’s precautionary principle:
CETA Puts Pressure on Precautionary Principle, Glyphosate Implicated: https://www.arc2020.eu/ceta-precautionary-glyphosate/
CETA, TTIP and the EU precautionary principle. Legal analysis of selected parts of the draft CETA agreement and the EU TTIP proposals: https://tradevenvironment.eu/index.php/2019/02/24/ceta-and-ttip/