(16 March 2017) In response to the EC consultation on the Multilateral Investment Court (MIC) that closed on 15 March, EPSU argues that the EC proposal would do little to address the fundamental flaws in the investor-to state dispute settlement (ISDS) system that has caused so much controversy in the CETA and TTIP negotiations. As such the consultation is a missed opportunity for reform and the MIC project risks to entrench the worst aspects of ISDS even further.
EPSU points out that independent judicial systems and good governance are the bedrock of sustainable development. The EU has pledged to work towards the realisation of the UN Sustainable Development Goals (SDGs) which include the goal to create Peace, Justice and Strong Institutions (Goal 16). All sections of society, including investors have a shared interest in strengthening human rights, environmental protection and the universality of the rule of law. Separate, and better, rights for investors is not the way forward. ISDS has already shown itself to be an obstacle to realising progressive social land environmental policies that serve the public interest. It needs to be dismantled rather than propped up.