Navigating ESG arbitrability challenges in energy and climate: an in-depth analysis and future perspectives
Article
Olmos Giupponi, B. and Figueroa, R. 2024. Navigating ESG arbitrability challenges in energy and climate: an in-depth analysis and future perspectives. European Energy & Climate Journal. 12 (1), pp. 13-27. https://doi.org/10.4337/eecj.2024.01.02
Type | Article |
---|---|
Title | Navigating ESG arbitrability challenges in energy and climate: an in-depth analysis and future perspectives |
Authors | Olmos Giupponi, B. and Figueroa, R. |
Abstract | Over the past few years, there has been a notable surge in the inclusion of Environmental, Social, and Governance (ESG) clauses within both domestic and international agreements and contracts. This trend places a distinct focus on aspects related to climate change and energy. Implementation and enforcement challenges have emerged, prompting the exploration of remedies and procedural channels, wherein commercial and investment arbitration has gained recognition as a suitable dispute resolution mechanism. Against this backdrop, this article examines ESG clauses from both substantive and procedural perspectives, emphasizing their relevance to climate change and energy issues in light of the Paris Agreement. The study presents a thorough analysis of conceptual frameworks, content, scope, and implementation of ESG clauses. Additionally, it explores procedural pathways for enforcement, encompassing commercial and investment arbitration, highlighting their advantages and downsides. A critical analysis of recent arbitration cases involving ESG clauses provides insights into future implications. The study contributes to a deeper understanding of the challenges and significance surrounding the implementation of ESG clauses, particularly in the context of climate change and energy considerations, within contemporary international investment agreements and in the evolving landscape of commercial arbitration. |
Keywords | Environmental; Social; and Governance (ESG) clauses; contractual obligations; enforcement mechanisms; arbitration; sustainability; climate change; energy transition; corporate governance |
Sustainable Development Goals | 13 Climate action |
Middlesex University Theme | Sustainability |
Publisher | Edward Elgar Publishing |
Journal | European Energy & Climate Journal |
ISSN | 2211-9175 |
Electronic | 2666-576X |
Publication dates | |
28 Mar 2024 | |
Publication process dates | |
Accepted | 21 Mar 2024 |
Deposited | 11 Jun 2024 |
Output status | Published |
Accepted author manuscript | File Access Level Open |
Copyright Statement | This is a draft article © The authors, 2024. |
Digital Object Identifier (DOI) | https://doi.org/10.4337/eecj.2024.01.02 |
Language | English |
https://repository.mdx.ac.uk/item/1156q4
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