Public Law Studies Quarterly

Environmental Approach of Foreign Investment Insurers

Document Type : Article

Authors

Elnaz Nesari 1
Azam Amini 2

1 Ph.D. in Public International Law, Faculty of Law and Political Science, Allame Tabatabaei University, Tehran, Iran

2 Assistant Prof., International Law, Faculty of Law and Political Science, Ferdowsi University, Mashhad, Iran

https://doi.org/10.22059/jplsq.2020.280598.2005
Abstract
Macro investing often leads to human rights and environmental challenges. Sustainable investment emphasizes the necessity of foreign investment sustainability and acting within the framework of environmental and social norms. Indeed, Environmental and social assessments are considered a prerequisite for an investment projects’ insurance by foreign-investment insurers, such as OPIC and MIGA. In other words, projects which are not compatible with environmental or social norms are not supported by these institutes. While the projects are being carried out, these institutions monitor them and if any incompatibility with environmental or social norms occurs, the continuance of the insurance coverage will be challenged. Despite these two institutions approach, compatibility of a foreign-investment project with environmental or social norms is not a legal requirement for its insurance. Nonetheless, it can be argued that the insurer must not insure the projects, when there are serious environmental risks or fundamental human rights may be affected as, it would seem that a soft law is forming on the necessity of environmental assessments and not granting insurance coverage to such projects. This paper intends to examine the role of foreign-investment insurers in protecting the environment.

Keywords

Environmental protection
foreign investment insurance
MIGA
OPIC
sustainable investment

  1. انگلیسی

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    1. B) Articles
    2. Burgi Bonanomi, Elisabeth (2015), "Sustainable Investment in Land in the Global South: What Would it Require from a Coherence Perspective? The Case of Sierra Leone", Questions of International Law, Vol. 21, pp. 17-37.
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    1. C) Cases and Documents 
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    1. MIGA Exclusion List, available at: https://www.miga.org/guidelines-policy
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    References in Persian

    1. A) Books
    2. Shiravi, Abdolhossein (2019), International Trade Law, Tehran: Samt (In Persian).

     

    1. B) Articles
    2. Formation and Development of "Future Generation Rights" Concept in International Environmental Law, J.Env. Sci. Tech., Vol 18, No.3, pp. 165-180(In Persian).
    3. KadKhodaei, Abbasali & Salari, Asma (2018), “Precautionary in International Law: A Customary Principle or a General Principle of Law?”, Public Law Research, Vol. 20, No.59, pp. 33-63 (In Persian).
    4. Nesari, Elnaz & Zamani, Seyyed Ghasem (2018), Environmental Expropriation in Foreign Investment Arbitration Practice. CLR. Vol. 22, No.3, 105-136 (In Persian).
Public Law Studies Quarterly
Volume 52, Issue 4
Winter 2023
Winter 2022
Pages 1969-1992

  • Receive Date 07 May 2019
  • Revise Date 29 September 2020
  • Accept Date 07 December 2020

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