Responsible Investment for Development and Human Rights: Assessing Different Mechanisms to face Possible Investor-State Disputes from COVID-19 Related Measures
Developing and least developed countries (LDCs), particularly in Africa, are especially vulnerable to the unfolding effects of the COVID-19 pandemic. According to UNCTAD, foreign direct investment flows will drop drastically up to 40% during 2020-2021. A number of developed and developing countries, including LDCs, have introduced a number of measures aimed at limiting the effects of the pandemic, protecting domestic industries for strategic sectors (e.g. health industry, energy sector, telecommunication, food production, etc.), and safeguarding the real economy, particularly by offering bonds or bailouts for companies and the public in general.
Law firms and risk managers are already advising foreign investors about the possibility of initiating investor-State dispute settlement (ISDS) claims against host States on the grounds of the alleged breach of their investors’ rights, based on provisions such as : (i) full protection and security; (ii) fair and equitable treatment; (iii) national treatment and most-favoured nation treatment; and (iv) unlawful expropriation.
Webinar on Tax Policy Options For Funding the Post-COVID Recovery in the Global South
The COVID-19 pandemic has negatively affected tax revenue collection globally, with the Global South especially hard-hit. The decline in economic activity has meant reduced corporate profits, declining consumption and increasing unemployment. This in turn implies declining revenue from corporate income taxes, goods and services taxes and personal income taxes. Resource-rich countries are especially being affected by the drop in global commodity prices and decline in international trade. This reduction in revenue collection is limiting developing countries’ ability to effectively respond to the COVID-19 crisis. It is therefore necessary to explore what are the concrete tax policy measures developing countries can take to raise revenue at this critical time. Measures pertaining to the digitalized economy are of particular importance given the increasing sales of tech companies and highly digitalized businesses during the lockdown.
Webinar Series: Energy for sustainable development in Africa in the post-COVID19 world – looking for the New Normal
Webinar 2: Sustainable Energy for Africa: transition through growth. How to boost output, improve access and reduce impact on the nature and society? Technologies, scenarios, strategies, sources of finance and business models.
Africa, particularly sub-Saharan Africa, has generally low levels of socio-economic development and energy usage. The COVID-19 outbreak and its consequent economic downturn present additional challenges and pose questions requiring urgent answers. Success of the pandemic measures depend upon, among other elements, on a strategic vision reflecting current situation and future uncertainties; and aligning interests of all stakeholders. In order to build such strategic vision, we have invited leading experts in our webinars to facilitate information gathering and to generate ideas for further work on strategies development and stakeholders’ engagement necessary for the continent’s energy transition in the post-COVID-19 world.