International Investment for Sustainable Development critically examines the interface between sustainability, development, and the governance of international investment. It challenges the conventional view that foreign direct investment is a 'miracle drug' for developing countries and exposes serious shortcomings in the current international investment regime. Composed of norms, agreements, treaties and regulations, the emerging investment regime expands the rights of transnational corporations (TNCs) without commensurate rewards for the common good.
Drawing on both research and engaged advocacy, the contributors ultimately map out a new way forward, towards the creation and implementation of international investment rules that will promote global sustainability and equity.
Lyuba Zarsky is senior research fellow at the Global Development and Environment Institute at the Fletcher School of Law and Diplomacy and Tufts University, US, and senior associate and co-founder of the Nautilus Institute for Security and Sustainability, US. Her publications included Human Rights and the Environment: Conflicts and Norms in a Globalizing World (Earthscan, 2002), and Beyond Good Deeds: Case Studies and a New Policy Agenda for Corporate Accountability (Natural Heritage Institute, 2002).
Introduction: Balancing Rights and Rewards in Investment Rules * Part 1: Links Between Foreign Direct Investment, Development and Sustainability * No Miracle Drug: Foreign Direct Investment and Sustainable Development * FDI and the Environment: What Empirical Evidence Does and Does Not Tell Us? * Governing Foreign Direct Investment in Sub-Saharan Africa: Policies and Practices Reconsidered * Sustainable Development and Foreign Direct Investment: The Emerging Paradigm in Asia * Part 2: The Governance of International Investment * All Roads Lead Out of Rome: Divergent Paths of Dispute * Settlement in Bilateral Investment Treaties * The Road to Hell? Investor Protections in NAFTA's * The Environment and the Principle of Non-discrimination in Investment Regimes: International and Domestic Institutions * Corporate Governance and Global Disclosure: Let the Sun Shine In * Bibliography, Index