Abstracts Law

L'équilibre des intérêts en droit international des investissements : principe général de droit applicable aux rapports entre investissement et environnement

by Cosme Gosshé Mekpo

With the resurgence of environmental problems, international investment law today finds itself faced with the urgency of its own rehabilitation. And, as a unique response to a categorical imperative, the balance of interests emerges as a general principle of law (GDP), of a flexible and autonomous nature, to which its various functions (logical, axiological, unifying and corrective) confer an operational usefulness within the international legal order, and whose implementation in international investment law is the expression of the evolutionary dimension. As a referential principle, it is consubstantial with international investment law and aims to make one normative ideal (the law of balance) prevail over another (the law of protection). However, the aporia of the balance of interests is to be both an affirmation of the principle of regulatory sovereignty and a limitation of it. Initially, its implementation results in the considering of the general interest in the state-investor balance and, secondly, this requirement only materializes after a double test of the proportionality and reasonableness. While its source of regeneration in relation to the rest of the system is the international protection of fundamental and socio-environmental values, its basic structure remains the right-obligation couple and is like a normative transversality that combines both the lex lata and lex ferenda on the one hand, soft law, and hard law on the other. Despite its growing fecundity, it can be described as the source of a poly-normative and "open-textured" law that has both a core of applicability, a variable content, and an abundant legality. The abbreviated profile of this normative construction could then materialize in international investment law by: taking into account the general interest, the social responsibility of multinational companies, reciprocity by equivalence of the parties rights and obligations, regulatory flexibility and compatibility with other international protection standards.