联合国贸易发展委员会-投资者与国家间仲裁案件的最新趋势（英）

1#2 SEPTEMBER 2025IIA Issues NoteInternational Investment AgreementsRecent trends in investor–State arbitration cases #2 SEPTEMBER 2025 Investor–State arbitration cases reached 1,401. Most of the cases – about 75 per cent – arose in the past 15 years. About 60 per cent of all ISDS cases involved damages claims of $100 million and higher, including 143 cases in which investors sought more than $1 billion. The past decade shows a shift towards higher damages claims and awards. In 2024, investors initiated 58 arbitrations. More than half of them related to extractive activities and energy supply. About 55 per cent of new cases were brought against developing countries. Developed-country claimants initiated most of the new cases with about 80 per cent.HIGHLIGHTSIIA Issues NoteInternational Investment Agreements Six cases in 2024 involved the mining of critical minerals required for the energy transition, such as copper, lithium, titanium and zinc. From 1987 to 2024, at least 139 cases – about 10 per cent of all cases – related to different categories of critical minerals, including 51 cases relating to critical minerals required for the energy transition. Claimants filed 13 fossil fuel-related cases in 2024 and initiated 6 proceedings concerning investment in the renewable energy sector. Overall, investors have filed at least 249 cases related to fossil fuel activities, and 129 cases concerning renewable energy investments.Note: UNCTAD, ISDS Navigator database, accessed 1 April 2025.27%27%27%73%73%73%1987–20092010–2024Investor–Statearbitration cases proliferated after 2010Parties involved in 2024 casesDevelopingcountriesDevelopedcountriesRespondent StatesClaimant homeStates55%45%23%77%Note: UNCTAD, ISDS Navigator database, accessed 1 April 2025.2#2 SEPTEMBER 2025IIA Issues NoteInternational Investment AgreementsNew cases initiated in 2024In 2024, investors initiated 58 known ISDS cases based on IIAs1 (figure 1). Annual caseloads have declined after a peak in 2018. As some arbitrations that are kept confidential at the time of initiation become public later in the proceedings, retroactive upwards adjustments can be expected for 2024 and preceding years. Annual case numbers initially reported between 2015 and 2022 have retroactively increased by about 20 per cent over time, incorporating previously unknown cases that surfaced after delays.The total count of treaty-based ISDS cases reached 1,401 at the end of 2024. Three quarters of them were brought between 2010 and 2024.1 IIAs include bilateral investment treaties (BITs) and other treaties with investment provisions (TIPs).2040608010019871994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024ICSIDNon-ICSIDCumulativenumber of knownISDS cases1 401Figure 1The bulk of investor–State dispute settlement cases emerged between 2010 and 2024 Annual number of known treaty-based casesSource: UNCTAD, ISDS Navigator database, accessed on 1 April 2025.Note: Information compiled from p