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All Journal Indonesian Journal of International Law Indonesia Law Review (ILREV)
Ghaziani, Moosa Akefi
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Law, Crime, Criminology & Criminal Justice Social Sciences

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The Role Of Expropriation Clauses In Protection And Promotion Of Foreign Investments In Renewable Energy: An Essential But Overlooked Legal Consideration Ghaziani, Moosa Akefi; Ghaziani, Mohammad Akefi
Indonesia Law Review Vol. 11, No. 2
Publisher : UI Scholars Hub

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Abstract

Today the world is tackling climate change. The global threat of energy poverty along with the growing need for energy has escalated this crisis. The promotion of renewable energy sources is widely known as the main solution to this challenge. Many International and regional agreements address various aspects of renewable energy development such as trade, transit, security, and investment. Foreign investment is recognised as a crucial prerequisite for the global deployment of renewable energy, since not all States have the financial and technological potentials to develop this sector. Various investment agreements are signed to facilitate and promote investments. These instruments contain a mixture of obligations that have direct or indirect effects. Expropriation provisions which are often crystallised in the form of ‘a duty not to expropriate’ are among these obligations. This article analytically describes the legal aspects of this standard and proposes the trends that can better protect the foreign investments in this sector; a factor without which the foreign investors would normally be reluctant to invest. It concludes that restricted police power, guarantees of transfer, and a full compensation standard that entails the payment of compound interest are the prominent legal features that can best perform this task.
The Role Of Expropriation Clauses In Protection And Promotion Of Foreign Investments In Renewable Energy: An Essential But Overlooked Legal Consideration Ghaziani, Moosa Akefi; Ghaziani, Mohammad Akefi
Indonesia Law Review Vol. 11, No. 2
Publisher : UI Scholars Hub

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Today the world is tackling climate change. The global threat of energy poverty along with the growing need for energy has escalated this crisis. The promotion of renewable energy sources is widely known as the main solution to this challenge. Many International and regional agreements address various aspects of renewable energy development such as trade, transit, security, and investment. Since not all states have the financial and technological abilities to develop this sector, foreign investment is recognised as a crucial prerequisite for the global deployment of renewable energies. Various investment agreements are signed to facilitate and promote investments. These instruments contain a mixture of obligations that have direct or indirect effects. Expropriation provisions which are often crystallised in the form of ‘a duty not to expropriate’ are among these obligations. This article analytically describes the legal aspects of this criterion and proposes trends that can better protect the foreign investments inter alia in this sector; a factor without which the foreign investors are normally reluctant to invest. It is concluded that restricted police power, guarantees of transfer, and a full compensation standard that entails the payment of compound interest are the prominent legal features that can best perform this task.
Market Access Obligations and Foreign Investments in Renewable Energy: an Analysis of International Trade and Investment Law Instruments Ghaziani, Mohammad Akefi; Fazaeli, Mostafa; Ghaziani, Moosa Akefi; Amin, Huma
Indonesian Journal of International Law
Publisher : UI Scholars Hub

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Abstract

Today's development of renewable energy technologies is perceived as an essential ingredient of the world’s response to emerging challenges of energy security, global warming, and climate change. However, the global deployment of renewables needs huge financial and technological contributions that many States cannot afford. Therefore the promotion of foreign investments in this sector is at the stake. However, the global flow of investment and technology in this sector is not free from the regulations of international trade and investment law instruments. Among the prominent provisions common to these instruments are Market Access obligations. WTO agreements and IIAs provide for different levels of market access. Moreover, the possible contribution of these provisions in each case depends on the approach of the applicable agreements to the renewable energy sector in particular. Therefore it is also important to collaterally understand the overall approach of international trade and investment agreements to this sector since it appears to be a two-dimensional matrix. Therefore to clarify the possible contribution of market access provisions to the promotion of foreign investments in the renewable energy sector, this article, after providing an introduction, expounds on the status of the applicable market access obligations to this sector under trade law. Consequently, it deals with the approach of IIAs in this regard. Finally, it concludes that so far both the legal systems have to a great extent overlooked the importance of establishing robust pro-renewable energy market access obligations.
Co-Authors Amin, Huma Fazaeli, Mostafa Ghaziani, Mohammad Akefi