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From Trade to Investment: Can the ACWL Model Travel?

UNCITRAL Working Group III has been seized with Investor-State Dispute Settlement (ISDS) reform for nearly ten years. Pursuing several initiatives in parallel, one project now entering its final…

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Reassessing Consent in Counterclaims: Rebalancing Investment Protection and Public Interest under the UNCITRAL ISDS Reform

In mid-2025, the United Nations Commission on International Trade Law (UNCITRAL) Working Group III (WGIII) released a new set of Draft Provisions on Procedural and Cross-Cutting…

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A Multilateral Instrument on ISDS Reform (MIIR): Selected Design Issues

Introduction This post addresses issues being considered in the UNCITRAL Working Group III process in relation to the design of a multilateral instrument on investor–State dispute…

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Compliance through Enforcement in ISDS: What can UNCITRAL Working Group III learn from the ECtHR?

The ISDS reform process at UNCITRAL Working Group III provides a unique opportunity to consider new institutional dispute settlement designs. As EJIL:Talk! Readers will know from earlier blogs…

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UNCITRAL and ISDS Reform: Lifelong Learning

How many International Investment Disputes have there been since 1973? How many International Investment Disputes are ongoing now? We do not know. There is no authoritative count. How…

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UNCITRAL and ISDS Reform: Moving to the Delivery Phase

The investor-state dispute settlement (ISDS) reform process underway in UNCITRAL Working Group III has entered the delivery phase. The first four reform products were delivered in July 2023,…

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UNCITRAL and ISDS Reform (Hybrid): Islands of Persuasion

Since UNCITRAL Working Group III opened its most recent session on 14 February, many delegates began their interventions by wishing each other a Happy Valentine’s Day. As they…

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UNCITRAL and ISDS Reform (Online): Can You Hear Me Now?

‘Can you hear me now?’ is a question that the delegates of Working Group III asked each other often last week, as negotiations on ISDS reform continued but…

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The Draft Code of Conduct for Adjudicators in Investor-State Dispute Settlement: An Important Step Forward in the Reform Process?

On May 1, 2020, the secretariats of ICSID and UNCITRAL released the first draft of the Code of Conduct for Adjudicators in Investor-State Dispute Settlement…

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UNCITRAL and ISDS Reform: Plausible Folk Theories

  As observers of the UNCITRAL process, we watch the debates with great interest, writing about the emergence of different camps, giving perspectives on how the…

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