Research on Environmental Protection Clauses in the Investment Field from the Perspective of CPTPP

Abstract

CPTPP is a typical model in regional integration agreements, and its environmental protection clauses in the investment field reflect the current new concepts of international investment law regarding environmental protection. As China has become the world's largest outward investment economy and the second largest recipient of foreign direct investment, on the one hand, some foreign investment projects have caused damage to China's environment, and on the other hand, China's overseas investments in some countries and regions have also had adverse impacts on the local environment. China has always attached great importance to environmental protection, and in recent years, environmental protection clauses in the investment field have frequently appeared in bilateral investment agreements signed by China. However, there are still many deficiencies in these clauses, which need to be improved by benchmarking against high-standard environmental protection clauses in the investment field. In the context of CPTPP, there are conflicts between environmental protection clauses and investment protection clauses, including the National Treatment Clause, Fair and Equitable Treatment Clause, and Expropriation Clause. From the perspective of CPTPP, the environmental protection clauses in China's investment treaties ignore the setting of balance clauses, the investor protection clauses lack rationality, and exception clauses are absent, requiring China to attach importance to improving environmental protection clauses in investment treaties.