The International Centre for Settlement of Investment Disputes
(ICSID) adopted amendments to its rules on 21 March 2022. They are
set to come into force on 1 July 2022 and will apply to proceedings
commenced after that date. The amendments are the culmination of a
consultative process that was launched in 2016, comprised six
working papers, and involved extensive consultations with ICSID
Member States and stakeholders.1
With its amended rules, ICSID aims to "modernize, simplify,
and streamline the rules, while also leveraging information
technology to reduce the environmental footprint of ICSID
proceedings."2 In addition to amending the
Regulations and Rules for ICSID Convention Proceedings –
including the Administrative and Financial Regulations, Institution
Rules, Arbitration Rules, and Conciliation Rules – as well as
the ICSID Additional Facility Rules, entirely new procedural rules
for mediation and fact-finding have been introduced.
