| International investment has been always bringing about environmental issues to the host country as it boosts world economy.In terms of this issue,capital-importing country should adopt certain environment-related regulations and limitations on investors based on their practical situations domestically for environmental protection.Although it belongs to domestic jurisdiction,for foreign investment,it involves not only domestic law regulations of the host country,but also involves investment agreements between capital-exporting and export-importing countries in practice.The primary purpose of those bilateral or multilateral agreements is to protect and promote investment liberalization.They usually stipulate the obligations of the host country regarding investment protection,thus causing some conflicts between the regulation measures made by the host country to protect domestic environment and the investment protection obligation stipulated by the agreement,which poses a challenge for foreign investors.A thornier matter in international investment arbitration practices during the past decades is that when people pursue convenience and cross-border investment protection,can they ignore or even sacrifice the target of the same or the greater significance,which includes but not limits to national security,public health,public morality,environment and human right and other rights and interests that the host country should attach importance to?Given that fact that the number of international arbitration cases is increasing rapidly and the fairness and reasonability of the arbitration verdict are being doubted frequently,an increasing number of countries come to realize that to strike a balance between the interest of the host country and that of foreign investors,a reform is needed for part of clauses in the current bilateral or multilateral agreements.For example,to add necessary exceptional clauses to leave certain policy rooms for safeguarding national security and social interests when the both sides of the agreement try to give impetus to and protect investment.Based on stating the emergence of environmental pollution in international investment and its reasons,this thesis aims to clarify the necessity to add environmental clauses which clearly protect the right of the host country in environment registration in bilateral or multilateral agreements.Besides,the thesis explore the evolution of environment-related clauses in bilateral investment agreements from the aspect of text and practical arbitration,and analyzes the conflicts between environment regulation rights of the host country in governing the country and the obligation to protect investment in the bilateral or multilateral investment agreements.Then this thesis tries to analyze how to better balance and coordinate the relationship between investment protection and environment regulation of the host country in terms of the host country,the home country and cross-border investors.Finally,this thesis points out the reality confronting China per China’s practical situations,and suggests some solutions from the aspect of the improvement of domestic laws and the signing and explanation of the agreements. |
