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Article

17 Jun 2008

Author:
Herbert Smith Intl. Law e-Bulletin

[DOC] [Herbert Smith commentary on IFC / John Ruggie report "Stabilization clauses & human rights"]

The future of stabilisation clauses: the scope of these clauses is being reassessed by the UN to strike a balance between human rights and the need to promote and enable viable investment...The forthcoming UN recommendations [by John Ruggie] will not be binding on investors. Nonetheless, large corporates will no doubt be wary of overlooking them due to reputational risk. The recommendations will also influence State parties when they come to negotiate or renegotiate their contracts. Corporates will therefore be keen to keep abreast of decisions taken by market rivals regarding the publication of such clauses and their content. [refers to BP]