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Telesetsky, Anastasia --- "International investment law and biodiversity" [2019] ELECD 318; in Miles, Kate (ed), "Research Handbook on Environment and Investment Law" (Edward Elgar Publishing, 2019) 131

Book Title: Research Handbook on Environment and Investment Law

Editor(s): Miles, Kate

Publisher: Edward Elgar Publishing

ISBN: 9781784714628

Section: Chapter 6

Section Title: International investment law and biodiversity

Author(s): Telesetsky, Anastasia

Number of pages: 19

Abstract/Description:

This chapter examines five thematic connections between investment law and biodiversity. The first section of the chapter explores how law might shape future investments in emerging biodiversity reliant industries such as global biotech. The second section describes the potential investment implications of States creating protected areas as a strategy to conserve biodiversity. The third section introduces the emerging legal practice of developing access and benefit-sharing agreements as a mechanism for international and domestic investors to formally invest in communities that have been historical stewards for biological resources. The fourth section explores private investment in biodiversity protection. The final section offers three recommendations to provide for better biodiversity management and more accountable international investment: (1) prioritize designating protected areas before approving investment; (2) create institutional review mechanisms that provide for a formal review of proposed international investment proposals by environmental ministries before final approval by national investment agencies; and (3) implement investment risk assessment requirements for companies to document how their investments will be implemented to avoid undermining public interests such as biodiversity protection.