On 25 May 2023, the Centre for International Law (CIL) and the Organisation for Economic Co-operation and Development (OECD) held a virtual meeting with Asian government officials to informally discuss the investment treaty regime in the context of its interaction with policies designed to mitigate and adapt to climate change.

Government officials from Australia, Brunei Darussalam, Indonesia, Japan, Korea, the Philippines, Singapore, Thailand and Viet Nam participated in the discussion, which was moderated by Professor N. Jansen Calamita, Head, Investment Law & Policy, at CIL. David Gaukrodger, Senior Legal Adviser, OECD Investment Division, and Professor Lauge Poulsen, Chair, OECD Project on Climate Change and Investment, took part in the discussion, which allowed participants to exchange peer-to-peer perspectives and experiences on issues of common concern, including regional interests, priorities and policies for the climate and investment. 

Most ASEAN Member States (together with their FTA partners) have dense networks of investment treaties that apply to inward and outward investment regardless of its sector or climate impact and cost. Investment treaties have thus been described as a “blind spot” in policy discussions of sustainable finance and investment, but there is increasing attention and concern from climate, finance and energy policy makers that the alignment of the investment treaty regime is a priority. As a complement to ongoing reforms of investor-state dispute settlement, governments at the OECD have initiated the first sustained multilateral effort to consider climate policies for investment treaties. CIL is proud to partner with the OECD on these efforts.