Part II International Economic Law as an Order of Rules and Principles, VIII Environmental Protection and Sustainable Development

Subject(s):

International investment law — International monetary law — International trade — Natural resources — Environmental disputes

This chapter examines how international environmental law is closely interwoven with international trade and investment law. Environmental protection has become of paramount importance, with the optimal allocation of resources and a maximum of productivity being no longer the dominant and overarching objective, even of economic policy. The construction of large industrial facilities, the exploitation of natural resources, or the production of energy will almost always raise environmental issues. Hence, the regulatory framework for environmental protection does not only reflect sensitivity for environmental concerns, but also the degree of risk aversion prevailing in a country. This regulatory framework may determine entrepreneurial choices of where to invest and to do business.