USCIB Advocates for Balanced ISDS Reform at UNCITRAL in Vienna

Jason File, General Counsel and Director of Legal Affairs at USCIB, represented USCIB members at the 55th session of UNCITRAL Working Group III on Investor-State Dispute Settlement (ISDS) Reform, held in Vienna October 12-16. A central debate concerned a proposal that would have categorically barred investor claims over entire sectors of regulation, regardless of how measures were designed or applied.

File acknowledged states' inherent right to regulate in the public interest but argued it is best protected through balanced treaty language, not blanket exclusions. Ultimately, the Working Group rejected the categorical rule in favor of a more careful approach.

"We appreciate the constructive engagement of delegations in Vienna and are encouraged that the Working Group is moving towards a balanced path that serves both states and the investors whose long-term capital supports their development goals," File said.

USCIB will return for the 56th Session in January, focused on a proposed multilateral investment court.