Abstract
The relationship between the rule of law and international investment law and arbitration was the focus of the International Law Association (ILA) Committee on “Rule of Law and International Investment Law”. From 2016 to 2024, this committee focused on analysing the rule of law aspects contained in substantive investment protection standards as well as the rule of law issues arising from investor-state dispute settlement (ISDS). Accepting that the rule of law has no clearly defined and universally accepted meaning, the Committee chose to use the rule of law notion adopted at the UN level as a yardstick to assess both substantive and procedural international investment law. It has done so in two extensive reports adopted in 2022 and 2024 and a final resolution containing a brief version of Relevant Practices and Recommendations, mostly directed at adjudicators to ensure adherence to rule of law principles when interpreting investment standards and when conducting ISDS proceedings. This contribution is intended to provide an overview of the Committee’s work and to situate it in the broader context of the discussion about the rule of law and investment law and arbitration.
Published Version
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