This article was originally published on Illuminem Corporate net-zero commitments have become the dominant framework for private sector...
Financing Climate & Sustainable Development / Report
Diagnosing how the sovereign ceiling functions as a simplifying shortcut that can obscure meaningful differences across borrowers, and proposing an alternative credit rating approach based on disaggregating sovereign risk into specific transmission channels.
The ICSID Convention has envisaged arbitration between subnational units and foreign investors since its inception in 1966, but no such unit has ever been party to ICSID arbitration. The recent ratification of the Convention by Canada could trigger the emergence of this new sort of arbitration, bringing international investment law into unchartered territory.
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