Study On State Responsibilities Regarding Environment Protection In International Investments

In recent years,China has become the world's second largest country for overseas investments.However,there are still environmental problems along with the growth of Chinese overseas investments.Ignoring environmental problems will be one of the important factors leading to the failure of overseas investment by Chinese enterprises.The risk of state liability for environmental problems is also increasing.This paper includes three sections,the preamble,body text and conclusion.The body text consists of six chapters,including the first chapter entitled the “Overview of International Legal System on Environment Protection in International Investments”,the second chapter entitled "State Responsibilities on Environmental Harm Prevention in International Investments",the third chapter entitled "State Liability and Its Constitutional Elements for Environmental Harm in International Investments",the fourth chapter entitled “Forms,Allocation Mechanism and Exemption of State Liability due to Environmental Harm in International Investments”,and the fifth chapter entitled "State Compensation Liability on Environment Protection in International Investments into Certain Fields".In respect of the state responsibilities to prevent environmental harm in international investments,this paper explores the principle of precaution through comprehensive international environmental legislative documents,including bilateral / multilateral investment agreements,environmental assessment for international investment projects,and green finance.Firstly,this paper discusses the environmental impact assessment for international investments,noting that environmental impact assessment is an important precautionary measure to reduce the adverse environmental impact of investment projects,on the basis of multilateral international treaties such as the Espoo Convention and legislative practices of the United States,the European Union,Russia and other countries.Based on the comparison with China,it also discusses environmental impact assessment system of Chinese overseas investment.Secondly,this paper explains green finance related to international investments,covering the definition and significance of green finance,the relevant international law system and the legislative practices of the United States,Brazil,India,Mexico,UK,Malaysia and other countries,and also makes comparison with Chinese legislative practices.This paper also probes into the important role which green financing could play in Chinese overseas investment for environmental protection.Thirdly,in terms of international investment agreements and environmental protection,this paper focuses on the environmental provisions,studying the environmental provisions in NAFTA,USMCA,CPTPP,the Southern African Development Community,and investment treaties of the United States,Canada and other countries,with comparison with the environmental provisions in bilateral investment agreements of China.The paper discusses the environmental protection obligations under Chinese international investment agreements,and the dispute resolution mechanism for environmental disputes therein.In respect of the elements to constitute state liability on environmental harm in international investments,this paper starts from the constituent elements of transboundary damage,distinguishing international investments into two types,including internationally wrongful act and international nonprohibited act.Secondly,this paper probes into the imputation of the environmental damage of private overseas investment to the state from the perspective of the state's liability for extraterritorial private acts.This paper also,from the perspective of the investing state,discusses the form of state liability,loss sharing mechanism,exemption circumstances,etc.In respect of state responsibilities on environmental protection for international investments into certain fields,this article firstly discusses the field of nuclear power,and combs the international law system on state liability for nuclear accidents.Under the background of Chinese nuclear enterprises "going out" and on the basis of Chinese domestic legislations,taking a case related to China Guangzhou Nuclear Group to participate into the UK nuclear power project as an example,this paper analyzes the state liability of China in case of an overseas nuclear accident.Secondly,this paper discusses the state liability on environmental protection in international investments in the field of space industry,and the international law system of state liability for space accidents,including the Outer Space Treaty,the Liability Convention,the Registration Convention,the Rescue Agreement,the Moon Agreement,etc.Along with the "going out" of Chinese aerospace enterprises,it discusses whether the "going out" activities of Chinese aerospace enterprises will arouse the state liability of China in the event of a space accident.Finally,this paper probes into the state liability on environmental protection in international investments in the field of petroleum industry,and combs the international law system on civil liability for oil pollution damage.Under the context of the "going out" of Chinese petroleum enterprises,it analyzes the potential risks of oil pollution of Chinese overseas oil enterprises,and the state liability due to marine pollution and land pollution caused by accidents respectively.China,as the second largest state of overseas investments in the world,should pay attention to the issue of state responsibility due to environmental problems.This paper puts forward some suggestions to improve the legal system of environmental protection for overseas investment of China,such as the national obligation to prevent environmental damage caused by Chinese overseas investments,the state liability for environmental damage,and the state responsibility for environmental protection of Chinese overseas investments in certain fields.