Striking the Right Balance Between Regulatory Stability and Regulatory Flexibility – Candid Reflections on Resource-Based Development

View the webinar.

Columbia Center on Sustainable Investment (CCSI), in association with Steptoe LLP, hosted Session 1 of our four-part webinar series, Candid Reflections on Resource-Based Development.

Mining investors reasonably seek a degree of legal stability when committing to their projects, which often require substantial up-front capital investments and operate over decades. At the same time, host states may need to take measures to strengthen the governance of their mining sector, to derive greater benefits from such investments and to meet critical public interest imperatives, including development, environmental protection, and climate goals. These efforts often involve updating environmental standards, revising tax regimes, and adapting regulations to evolving circumstances and community needs. Yet even legitimate and necessary measures can lead to disputes with mining investors, notably where new measures change the legal or fiscal framework. This panel examined the persistent tensions between regulatory stability and flexibility, explored why progress toward a sustainable balance has been elusive, and identified approaches to achieving a governance framework that aligns the interests of all stakeholders while advancing sustainable development.

Speakers:

• Scot Anderson, Partner, Womble Bond Dickinson
• Todd Clewett, External Affairs Executive and Political Risk Strategist in the Resources Sector
• Nneoma Nwogu, Senior Counsel, World Bank Group
• Vanessa Rivas Plata, Former President, Special Commission that Represents Peru in International Investment Disputes

Moderators:

• Lisa Sachs, Director, CCSI
• Christophe Bondy, Partner, Steptoe LLP