Balancing Community and Autonomy – To What Extent Does the Regime Reconcile ISA Regulatory Authority and Investment Protection for Corporate Actors?

Abstract

Chapter 7 assesses the extent to which the deep seabed mining regime in the United Nations Convention on the Law of the Sea (UNCLOS), as developed and enforced by the International Seabed Authority (ISA), strikes an appropriate balance between the dual common heritage goals of community and autonomy. Chapter 7 focuses on reconciling the ISA’s right to regulate on behalf of humanity with investment protection rights for deep seabed miners. It considers whether the UNCLOS deep seabed mining regime incorporates protections that are functionally equivalent to international investment law rights, backed by binding dispute resolution options. These are crucial considerations for corporate investors, and may influence the commercial viability of the regime. Chapter 7 then evaluates whether such investment protection rights may be balanced alongside the ISA’s right to regulate concerning the communitarian aspects of the common heritage, thereby achieving an overall balance between community and autonomy within the regime.