ICSID Caseload Statistics (2023 Fiscal Year)

The ICSID Caseload Statistics for FY2023

Introduction

The International Centre for Settlement of Investment Disputes (ICSID) was established in 1966 to provide a neutral forum for the resolution of disputes between foreign investors and states. The ICSID Convention currently has 165 member states, including 158 contracting states and seven signatory states.

FY2023 Caseload and Outcomes

In FY2023, the ICSID Secretariat registered 40 new ICSID Convention arbitration cases, 5 Additional Facility arbitration cases, 16 Investor-State UNCITRAL arbitrations, and 6 other cases under different rules of procedure. Of the cases decided by an arbitral tribunal in FY2023, 59% upheld the investors’ claims, 24% dismissed the claims, 14% declined jurisdiction, and 3% held the claims to be without legal merit.

FY2023 Basis of Consent Invoked to Establish ICSID Jurisdiction

In FY2023, the most common basis of consent invoked to establish ICSID jurisdiction was an applicable Bilateral Investment Treaty (BIT), representing 37% of registered cases. Other treaties invoked included the Energy Charter Treaty (13%), NAFTA and USMCA (both 12%), and various contracts and national investment laws.

Geographic Distribution and Economic Sector Distribution for FY2023

In FY2023, the largest proportion of ICSID cases were registered in the Central America & the Caribbean region (22%), followed by the Eastern Europe & Central Asia region (18%), South America (13%), and North America (13%). The most frequently implicated economic sectors were Oil, Gas & Mining (27%) and Electric Power & Other Energy (15%).

Comment

The popularity of ICSID as a forum for the settlement of investor-state disputes is evident in the number of cases registered in FY2023. However, it is worth noting the high number of cases involving Honduras and Mexico as respondent states. There has been discussion of Honduras potentially withdrawing from the ICSID Convention, following in the footsteps of Bolivia, Ecuador, and Venezuela.

Conclusion

ICSID has played a significant role in providing a reliable means of dispute settlement for investors and states. While the number of cases submitted to ICSID is not the sole measure of its success, it is important to acknowledge the FY2023 Caseload Statistics as indicative of the institution’s continued importance.

SDGs, Targets, and Indicators in the Article

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 16: Peace, Justice, and Strong Institutions
• SDG 17: Partnerships for the Goals

The article discusses the International Centre for Settlement of Investment Disputes (ICSID) and its role in resolving disputes between foreign investors and states. This relates to SDG 16, which aims to promote peaceful and inclusive societies for sustainable development, provide access to justice for all, and build effective, accountable, and inclusive institutions at all levels. Additionally, SDG 17, which focuses on strengthening the means of implementation and revitalizing global partnerships for sustainable development, is relevant as the ICSID operates as a partnership between states and investors.

2. What specific targets under those SDGs can be identified based on the article’s content?

• Target 16.3: Promote the rule of law at the national and international levels and ensure equal access to justice for all.
• Target 17.16: Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources.

The article highlights the role of ICSID in providing a neutral and reliable forum for the resolution of disputes between foreign investors and states, promoting access to justice and the rule of law at the international level. This aligns with Target 16.3. Additionally, the ICSID operates as a partnership between states and investors, reflecting the need for multi-stakeholder partnerships to achieve sustainable development, as stated in Target 17.16.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

• Indicator for Target 16.3: Number of cases registered and resolved by ICSID, percentage of cases decided by an arbitral tribunal, percentage of awards upholding investors’ claims.
• Indicator for Target 17.16: Number of new ICSID and Additional Facility cases registered, number of investor-state UNCITRAL arbitrations registered, gender diversity in arbitrator appointments.

The article provides data on the number of cases registered and resolved by ICSID, as well as the outcomes of ICSID arbitrations. These indicators can be used to measure progress towards Target 16.3, as they reflect the promotion of access to justice and the rule of law. Additionally, the article mentions the number of new ICSID and Additional Facility cases registered, which can be used as an indicator for Target 17.16 to assess the effectiveness of multi-stakeholder partnerships. The gender diversity in arbitrator appointments is also mentioned, which can be an indicator of progress towards promoting inclusivity and diversity in the field.

Table: SDGs, Targets, and Indicators

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Source: lexology.com

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