Principles of International Environmental Law

By Philippe Sands | Go to book overview

21

Foreign investment

R. Buckley, ‘International Trade, Investment and Environmental Regulation: An
Environmental Management Perspective’, 27 Journal of World Trade Law 101 (1993);
H. Ward and D. Brack, Trade, Investment and the Environment (1999); Permanent
Court of Arbitration/Peace Palace Papers, International Investments and the Protec-
tion of the Environment
(2000); T. Waelde and A. Kobo, ‘Environmental Regulation,
Investment Protection and “Regulatory Taking” in International Law’, 50 ICLQ 811
(2001); R. Barsh, ‘Is the Expropriation of Indigenous Peoples’ Land Gatt-able?’, 10
RECIEL 13 (2001); E. Neumayer, Greening Trade and Investment: Environmental
Protection Without Protectionism
(2001); Symposium on Regulatory Takings in
National and International Law, 11 New York University Environment Law Journal
1 (2003).


Introduction
Foreign direct investment is now the largest source of external finance for developing countries, having outstripped public sector overseas development assistance since the early 1990s. In 2002, the WSSD Plan of Implementation called on states to:

[fjacilitate greater flows of foreign direct investment so as to support sus-
tainable development activities, including the development of infrastruc
ture, of developing countries, and enhance the benefits that developing
countries can draw from foreign investment, with particular actions to:

a. Create the necessary domestic and international conditions to facilitate significant increases in flows of [foreign direct investment] to developing countries…
b. Encourage foreign direct investment in developing countries and countries with economies in transition through export credits that could be instrumental to sustainable development.1

1 Para. 78.

-1056-

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