2022 ICSID Regulations and Rules

Towards Efficiency and Consistency in Investment Arbitration Proceedings

Resumo

The new ICSID Regulations and Rules, entered into force on 1 July 2022, come to align the practice before ICSID, as well as to address the concerns raised in relation to ISDS more broadly. This paper analyzes some of the most important provisions of the 2022 ICSID Regulation and Rules, and, in particular, of the ICSID Arbitration Rules, and argues that their impact is significant. Not only that the new ICSID Regulation and Rules have managed to adapt the rules to the current investment arbitration practice, but also, these rules touch upon matters of ISDS, relevant in the context of its reform, such as: transparency, legitimacy, due process, conflicts of interest, among others, which address civil society’s - arguably unfounded - concerns on the “unfairness” or “biased” nature of ISDS.