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ARTICLE · 22 FEBRUARY 2022

New Amendments To The ICSID Rules

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Those that follow news in the world of ISDS (investor state dispute resolution) will not have missed the recent announcement by the International Centre for Settlement of Investment Disputes ("ICSID")...

United KingdomLitigation, Mediation & Arbitration
Sana Mahmud
Sana Mahmud
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Those that follow news in the world of ISDS (investor state dispute resolution) will not have missed the recent announcement by the International Centre for Settlement of Investment Disputes ("ICSID") that it hopes to approve extensive changes to its rules and regulations by 21 March 2022. 

The proposed changes to ICSID's rules are a culmination of a consultation process with stakeholders that began in November 2016 and, since then, six working papers have been issued. Published with the last of these in November 2021 (Working Paper #6) was a  complete set of amended rules. 

So, what is the rationale behind the changes and what can we expect if the new rules are approved next month? ICSID has described the overarching goals of the amendments as those that are necessary to "modernise, simplify and streamline" the rules based on case experience, whilst at the same time "leveraging information technology to reduce the environmental footprint of ICSID proceedings".1

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