A traditional measure for protection of the environment, Protected Areas (PAs) is envisaged inter alia in the Convention on Biological Diversity (CBD). The establishment of PAs can potentially cause conflicts with obligations under International Investment Law (IIL). States have concluded treaties containing protections of foreign investors. These treaties guarantee certain protection standards, such as 'fair and equitable treatment' or 'no expropriation, without compensation'. This chapter addresses conflicts of treaty norms and explores possible solutions in the relationship between the two regimes. It discusses the framework of Protected Areas (PAs) under the CBD. Then, the chapter addresses the exiting conflicts with protection standards of IIL. This raises the question of possible solutions for considering PAs in IIL. The outlook explores alternative avenues to deal with the described conflicts. Keywords: conflicts; Convention on Biological Diversity(CBD); International Investment Law (IIL); protected areas (PAs); treaty norms

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