Independence in Investment Arbitration: Lessons from Multidisciplinary Experience

Arbitrator independence is a cornerstone of investment dispute resolution, particularly in Latin America, where tensions between investors and states are common. The IBA Conference session "The technology and innovation boom" emphasizes how emerging sectors, like renewable energy, generate disputes requiring impartial and multidisciplinary arbitrators. My experience at PROINNOVATE Perú, evaluating innovation projects, and at UNIDO, enhancing coffee and cocoa quality, has equipped me to arbitrate investment disputes with a vision that balances economic interests and national regulations.

In a fictional case, a foreign company claims a new Peruvian solar energy regulation breaches its investment contract. I would apply my PROINNOVATE expertise to analyze the project’s technical feasibility and my INDECOPI background to assess the regulation’s legality, maintaining neutrality despite political pressures. The ICSID Convention (1965) demands arbitrators be "persons of recognized moral competence," a standard I uphold with independent decisions prioritizing fairness.

Considering another example, a mining investor disputes a regional government’s license cancellation over environmental concerns. Drawing on my consultancy experience, I would evaluate economic and social impacts, ensuring an impartial award that supports sustainability without yielding to external interests. Multidisciplinary experience adds value by ensuring decisions account for economic, social, and regulatory factors, enhancing arbitration’s legitimacy in the region.

References:

• ICSID. (1965). Convention on the Settlement of Investment Disputes Between States and Nationals of Other States.

• Dolzer, R., & Schreuer, C. (2012). Principles of International Investment Law. Oxford University Press.