Transnational Investment, Human Rights and Sustainable Development
Background:
This interdisciplinary research project, combining law, economics and finance, will analyse in what way global investment policies, in particular one specific investment strategy which is known as project finance, influence the major global issues of sustainable development, poverty reduction and human rights. There is evidence that project finance as a technique of private investment is coming into collision with the promotion of sustainable development. Partly this is a consequence of the unique constraints imposed by this financial strategy, which yield highly restrictive stabalisation requirements in transnational investment agreements. These requirements appear to debilitate governments' capacity building, preventing the effective implementation of environmental standards and human rights obligations, hence endangering the successful long-term development process. The project aims to carry out a number of case studies (including the comparison of transnational investment agreements across different countires and sectors) in order to establish the reasons why and the extent to which project finance and in particular stabalisation clauses will make recommendations on how project finance and private investment strategies on the one hand, and human rights and sustainable development on the other, can be made more complimentary and mutually beneficial.
Journals, seminar papers and other publications:
Sheldon Leader, ‘Human Rights, Risks, and New Strategies for Global Investment’ 9 Journal of International Economic Law 657-705 (OUP: 2006)
Sheldon Leader, ‘Sovereignty and Commitment in International Investment’ (in preparation) Likely destination is Journal of International Economic Law
David Ong, ‘International Environmental Law and Transnational Investment’ forthcoming Netherlands Yearbook of International Law
Book jointly authored by project participants: Global project finance, Rights, and Sustainable Development
Researchers:
Professor Sheldon Leader
University of Essex
Ms Halina Ward
International Institute for Environment and Development (IIED)
Contact:
Professor Sheldon Leader
Department of Law, Human Rights Centre
University of Essex
Wivenhoe Park
Colchester
CO4 3SQ
Tel: 01206 873311
email: leader@essex.ac.uk
Duration of Research:
March 2005 - February 2006