Policy and ‘Soft Law’ Rationales for Addressing Social and Environmental Concerns in Trade and Investment Treaties

Abstract

This chapter addresses and discusses the international policy and soft law rationales that exist for states to include sustainable development concerns in their trade and investment treaties. First, it discusses reasons why the negative impacts of trade liberalization should not just be left to roll downhill onto the fragile ecosystems and vulnerable populations of developing states, using indications from the 1972 Conference on Human Environment (UNCHE), the 1992 Rio Conference on Environment and Development (UNCED), the UN Commission for Sustainable Development (CSD) deliberations, the 1997 General Assembly Special Session (UNGASS), the 2002 World Summit on Sustainable Development (WSSD) and the 2012 Conference on Sustainable Development (UN CSD) to support this argument, and it specifically analyses the Sustainable Development Goals (SDGs) as they frame the new consensus. It then goes on to discuss how these soft laws, while not legally binding, constitute a legitimate expectation that States will promote sustainable development in their trade and investment treaties. It finds that there is a convincing international policy rationale for States to undertake measures to prevent, or at least mitigate, the environment and social development impacts of trade and investment agreements, addressing the main tensions identified in this volume.