On May 1, 2020, the Secretariats of the ICSID and UNCITRAL
released their long-awaited draft
Code of Conduct for Adjudicators in Investor-State Dispute
Settlement ("Draft Code of
Conduct").
This Draft Code of Conduct is the result of the ICSID and
UNCITRAL coming together to address an ethical issue which is often
the source of criticism in Investor-State Dispute Settlement
("ISDS"), namely "the lack or
apparent lack of independence and impartiality of ISDS tribunal
members."1 In doing so, the Draft Code of
Conduct serves to reinforce the legitimacy of the ISDS process.
The Draft Code of Conduct sets the table for the adoption of a
Code of Conduct for Adjudicators which will "contain
concrete rules rather than guidelines."2In
other words, Member States have yet to come to an agreement on the
common standards they share before this Draft Code of Conduct gives
place to a binding (or non-binding) corpus of rules.