ICSID Member States Approve Amended 2022 Arbitration Rules

On 21 March 2022, the member states of the International Centre for the Settlement of Investment Disputes (ICSID) approved wide-ranging amendments to the ICSID Regulations and Rules, which will come into effect on 1 July 2022. The approved amendments are the product of a rule amendment project which commenced in October 2016, pursuant to which the ICSID Secretariat has published six working papers (WPs) detailing successive changes to the amendments proposed (see our previous PIL Notes post on WP 5). The stated goals of the amendments are to "modernise, simplify and streamline the rules, while also leveraging information technology to reduce the environmental footprint of ICSID proceedings".