UNCTAD Guiding Principles on IIA Reform

Research on the reform of international investment agreements (IIAs) has informed the development of UNCTAD's Guiding Principles on IIA Reform, an international policy instrument designed to support governments in reforming investment treaties to better align investment protection with sustainable development objectives. Through participation in UNCTAD's Multi-stakeholder Platform on IIA Reform and the provision of expert peer review on successive drafts of the Guiding Principles, the research has contributed to the development of international policy guidance that will be launched at the World Investment Forum in October 2026.

As a member of UNCTAD's Multi-stakeholder Platform on IIA Reform, research expertise informed discussions on the development of the Guiding Principles on IIA Reform during the Platform's third meeting on 1 October 2025. The discussions focused on ensuring that the Principles are directly relevant to countries' IIA reform efforts, identifying international best practices in treaty reform, and determining the substantive content of the Principles.

Building on these discussions, expert peer review and detailed research-based comments were provided on the successive drafts of the Guiding Principles, including recommendations relating to sustainable development, treaty reform processes, the content of reformed IIAs, and implementation mechanisms. These contributions supported UNCTAD in refining a policy instrument intended to assist governments and other stakeholders in modernising international investment agreements.

The Guiding Principles on IIA Reform will be launched at the UNCTAD World Investment Forum in October 2026 and are intended to provide practical guidance for governments undertaking investment treaty reform. The research has therefore contributed to the development of international policy guidance with the potential to influence treaty negotiations, national reform processes, and international investment governance.

The underpinning research examines the reform of international investment agreements, investor-State dispute settlement, and international investment governance, with particular emphasis on aligning investment treaties with sustainable development, international human rights, environmental protection, and effective regulatory governance. This programme of research identifies deficiencies in the existing investment treaty regime and develops legal and policy recommendations for treaty reform that strengthen policy coherence, state regulatory autonomy, and the protection of public interests.