A Research On The Power Of Regulation Of The Host Country Onenvironment In The International Investment Agreement

In recent years, with the rapid development of the world economy, particularly in developing countries from solely pursuing the economic growth to not only focusing on economic development, but also pay more attention to environmental protection to achieve sustainable development. But in the area of international investment, the traditional rules of international law on investment protection laws and recent liberalization of investment rules, constitutes a high lever of investor protection standards and regulations is a legal entity system, limit shrink host the free exercise of the right of environmental regulation space. This phenomenon is reflected on international investment agreements and international arbitration practice is particularly evident: 1. Although environmental protection is reflected on the investment agreements signed in the world, however, through organizing international investment agreements signed between the countries, It is not difficult to find out that the environmental protection only mentioned in the general provisions in the preamble of the agreement, or scattered in substantial terms of the Investment Agreement fragmentation. North American Free Trade Agreement(NAFTA) which is known as the "greenest"(the greenest) world trade agreements, Highlights the expense of the environment during the process of trade and investment liberalization. It has important and far-reaching impact, but when it comes to investment disputes relating to the environment, NAFTA’s environmental philosophy has been repeatedly frustrated; 2, There has been a lot of international arbitration related to right of the host country in exercising the power on environmental regulation and implementing the environmental regulation measures countries. These decisions have implementing the common features: When the host countries implement regulatory measures, investors believe that the host country’s environmental regulation measures constitute a breach of national treatment or the content of investment agreements on investment, etc. It almost ends with the failure of the host countries and the negotiation of compensation. Recent international arbitrary awards, especially International Center for Settlement of Investment Disputes(ICSID) judgment different from the past, there have been some cases which support the host country environmental regulation, but the prospect is not optimistic.The legislative model which overemphasized on the investment liberalization and investment protection has been criticized by more and more scholars and critics criticized, and it also uncoordinated with me value of environmental. So, how to protect the legitimate exercise of the host country environmental regulations in order to protect the right to host counties and achieve the goal of environmental investment liberalization and international investment in the protection of investors’ interests over and become the problem we face. In this paper, the author stands on the capital-importing countries, namely the host perspective, trying from the development trend of international investment agreements in environmental terms, the relevant environmental regulations of the host country to exercise the right to host international investment agreements combining with the international investment arbitration practice. This paper try to figure out a clear environmental regulations of the host countries, and what kind of environment regulation do the host countries have, further, the balance with the investment liberalization and over protection of the investors, the last part, offer a reference to the authority on establishing more clear and effective terms in international investment agreement.In this paper, beside the introduction and conclusion, this paper is divided into four sections.The first part outlines the host country environmental regulations right in international investment agreement. Exploring the impact of international investment environment of the host country, in particular the negative impact of international investment agreements which leads to the signing of the increasing environmental provisions in the host country in order to protect their environment, and as a result of investment liberalization and excessive emphasis on investor protection, leading the international investment agreements the environmental provisions into a "weak" dilemma. so it is necessary to clarify the power of the host countries on environmental regulation in international investment agreements. The next step is the definition on the environmental regulation authority of the host countries in international investment agreement.The second part is the international investment agreements host country environmental regulations right text analysis. This section mainly through some representative analysis of international investment agreements, specifically in these international investment agreements in terms of the specific environment in which the host country has given the right to host environmental regulation better exercise environmental regulation measures to protect the environment.The third part is the Empirical Analysis of the right to host environmental regulation. For thesis research needs, this section mainly focuses on typical ICSID cases. ICSID arbitration plays an important role in precedent. Research on the host country of ICSID proceedings involving the exercise of the right of environmental regulations related to the case, in order to discover its award general rules and trends, as the host country better provide assistance to exercise the right to environmental regulation. When the host country in compliance with the conditions "for a public purpose," "good faith and non-discriminatory," "due process", "consistent with the ratio requirements", "There is a scientific basis for the support" when environmental regulation measures implemented can be identified as constitute expropriation, a better support of ICSID’s.The fourth part focuses on improving the China’s environmental provisions in international investment agreements thinking. This section is mainly based on the above studies, combined with China’s international investment model agreement and some shortcomings exist in specific environmental provisions in international investment agreements. Learning from other international investment agreements in the environmental provisions of the Legislation and ICSID court hearing situation, the Chinese environmental provisions of international agreements put forward a sound investment recommendations to achieve in international investment in China as the host country environmental protection purposes.