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RECOMMENDATION (07011/2024 – C100080/2024 – 2015/0012(NLE))

On the draft Council decision on the conclusion, on behalf of the European Union, of the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration

A-10-2024-0021

Committee on International Trade · Rapporteur: Anna Cavazzini

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Written by a language model from the full text only; every figure comes from the text. The paragraph links open the paragraph a statement rests on — check the text itself before relying on it.

Parliament gives its consent to the conclusion of the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration, which increases public access to documents and hearings in investor-state disputes. The Convention applies UNCITRAL Transparency Rules to investment treaties concluded before 1 April 2014, requiring public documents, open hearings, and civil society submissions. Ratification is a first step toward broader reform, including a Multilateral Investment Court, and its method should be replicated in other forums.

Committee position. The Committee on International Trade recommends that Parliament give its consent to the conclusion of the agreement.

Key points

  1. Parliament consents to the conclusion of the agreement.
  2. The Convention marks a step towards greater public access to documents and hearings, and inclusion of civil society in investor-state disputes.
  3. Under common arbitration rules, disputes can remain hidden from public view; one party can demand secrecy even when cases target democratically decided measures and lead to billion-dollar awards.
  4. The Mauritius Convention facilitates application of UNCITRAL Transparency Rules to investment treaties concluded before 1 April 2014.
  5. The rules require all documents, including tribunal decisions and party submissions, to be made public; hearings open to the public; and interested parties allowed to make submissions.
  6. The Convention retroactively applies to investment treaties signed before the introduction of the transparency rules, without need for individual renegotiation.
  7. Approximately 1,200 agreements involving EU Member States fall under the Convention's scope; the Energy Charter Treaty is the only treaty covered at EU level.
  8. Ratification is a first step in broader reform for a Multilateral Investment Court; its method should be replicated, for instance in OECD work to align investment treaties with Paris Agreement climate goals.

Who is affected

  • Investors and states involved in disputes under pre-2014 investment treaties, who will face public proceedings and submissions.
  • Civil society organisations, which may make submissions to tribunals and attend public hearings.
  • EU Member States, whose approximately 1,200 investment agreements fall under the Convention's scope.

Figures and deadlines

  • 1 April 2014: date before which investment treaties are covered by the Convention's transparency rules.
  • Approximately 1,200 agreements involving EU Member States fall under the scope of the Convention.

Legal basis: Article 207(4) first subparagraph and Article 218(6) second subparagraph, point (a) of the Treaty on the Functioning of the European Union.