CIADI - Annual report 2020

2020 Annual Report Excellence in Investment Dispute ResolutionICSID is an international facility available to States and foreign investors for the resolution of investment disputes. Established in 1966 by the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention), it is the only global institution dedicated to international investment dispute settlement. Through its specialized rules of procedure, world-class facilities, and expert legal and administrative support, ICSID provides unparalleled dispute resolution services to States and investors. Since the first case was registered with ICSID in 1972, the majority of all known international investment disputes have been administered by ICSID.

ABOUT ICSID

2020 ICSID ANNUAL REPORT iiiDear Chair Malpass, I am pleased to submit the Annual Report on the operation of the International Centre for Settlement of Investment Disputes for approval by the Administrative Council. This Annual Report covers the fiscal year from July 1, 2019 to June 30, 2020. The Report includes the audited financial statements of the Centre, presented pursuant to Administrative and Financial Regulation 19. Yours sincerely, Meg Kinnear Secretary-General September 21, 2020 Letter of Transmittal Mr. David R. Malpass Chair, Administrative Council International Centre for Settlement of Investment Disputes EXCELLENCE IN INVESTMENT DISPUTE RESOLUTION ivLetter of Transmittal iv M essage from the Secretary-General 3 Message from the Chair 5 ICSID Secre tariat 6 Member ship 11 Panels o f Arbitrators and of Conciliators 14 Caseload Tr ends 19 Spo tlight on T echnology 32 Outreach and Training 34 Fifty-Thir d Annual Meeting 43 Finance 44 List o f Member States 61 Contents

2020 ICSID ANNUAL REPORT

1Meg Kinnear ICSID Secretary-General

Spo tlight on T echnology 32 Outreach and Training 34 Fifty-Thir d Annual Meeting 43 Finance 44 List o f Member States 61 Contents

2020 ICSID ANNUAL REPORT

1Meg Kinnear ICSID Secretary-General

EXCELLENCE IN INVESTMENT DISPUTE RESOLUTION

2Fiscal year 2019–2020 has been an extraordinary year, at times posing challenges that none of us had contemplated at the start of the year. In particular, the immense economic upheaval caused by the COVID-19 pandemic has underscored the muchneeded stability that is fostered by international legal frameworks and multilateral institutions. My colleagues at the World Bank Group have moved with remarkable speed to help over 100 countries strengthen their emergency response and health care systems. Beyond that, the challenge of building as robust a recovery as possible lies ahead of us. As a part of the World Bank Group, ICSID has also been committed to the emergency response and will be part of addressing the recovery in the months to come. The closing of our offices in March 2020 pushed us to find new ways of doing business so that we could continue to provide our usual services and facilities in a seamless manner. Overnight, all filings went to electronic format and awards and decisions were issued electronically. In-person hearings scheduled for ICSID’s hearings centres in Washington, D.C. and Paris—and many other venues around the world—have been held virtually. From real-time court reporting to simultaneous interpretation, the essential features of an ICSID hearing have been brought to our secure video-conferencing platforms. Our success in this endeavor is a credit to the dedication, ingenuity, and flexibility of tribunals, counsel and the ICSID Secretariat. From home offices, kitchens and living rooms around the globe, ICSID’s 303 pending cases have continued to advance—while 40 new cases were added to

dedication, ingenuity, and flexibility of tribunals, counsel and the ICSID Secretariat. From home offices, kitchens and living rooms around the globe, ICSID’s 303 pending cases have continued to advance—while 40 new cases were added to the ICSID docket over the fiscal year. Yet for all the focus on technology, the human element has been just as important to our achievements. One of ICSID’s first virtual hearings during the pandemic featured tribunal members, counsel, witnesses and experts spread-out across two continents. Originally planned for ICSID’s hearing centre in Paris, the ICSID Secretariat and participants quickly organized this virtual hearing in less than a week. Shortly after, the tribunal members, counsel for both parties, and the tribunal secretary convened an online event to share their insights from the hearing. It was an admirably frank discussion on organizing a successful online hearing—one that moved from the nuts-and-bolts of screens, headsets and microphones, to effective advocacy techniques in an online setting. The event was one of many examples over the past year of counsel, arbitrators and institutions sharing knowledge on how to overcome the barriers imposed by the pandemic—for the benefit of the entire dispute resolution community. A highlight of last year’s report was Djibouti’s signing of the ICSID Convention. I am pleased to update that Djibouti deposited its instrument of ratification with the World Bank on June 9, 2020, thereby becoming the 155th ICSID Member State. I very much look forward to working with Djibouti as it takes its seat on the Administrative Council. Other important work of ICSID has also continued to advance over the past year. High on this list is the project of amending ICSID’s procedural rules. Following a consultation with Member States in Meg Kinnear, Secretary-General of ICSID. © ICSID Message from the Secretary-General

Other important work of ICSID has also continued to advance over the past year. High on this list is the project of amending ICSID’s procedural rules. Following a consultation with Member States in Meg Kinnear, Secretary-General of ICSID. © ICSID Message from the Secretary-General

2020 ICSID ANNUAL REPORT

3November 2019, ICSID released its fourth working paper on the amended rules in February 2020. I am pleased to say that the updated rules are close to completion and should be ready for adoption by Member States in 2021. In May 2020, ICSID and UNCITRAL also published a draft Code of Conduct for Adjudicators, and I look forward to the discussion with State representatives and the broader legal profession on the Code. ICSID continues to see great demand for capacity building services. While these courses have also moved to online formats in 2020, they have remained available to ICSID’s Member States and practitioners. In the course of FY2020, ICSID participated in over 100 events and courses around the world. T aken in sum, the last year has been one of remarkable progress in the face of immense challenges. None of this would have been possible without the dedication and talent of ICSID staff, and I thank them sincerely for their efforts. The road to recovery from the pandemic is undoubtedly daunting. But ICSID remains dedicated to playing its role—together with its membership, clients, and sister organizations in the World Bank Group—in encouraging the much-needed investment for sustainable and inclusive growth and a robust recovery in the coming months. Meg Kinnear, Secretary-General, ICSID World Bank Group Headquarters. © World Bank

EXCELLENCE IN INVESTMENT DISPUTE RESOLUTION

4Over the past year, ICSID has made substantial progress with its Member States to further modernize its procedural rules for arbitration, conciliation, mediation and fact-finding. Additionally, ICSID has been leveraging

World Bank Group Headquarters. © World Bank

EXCELLENCE IN INVESTMENT DISPUTE RESOLUTION

4Over the past year, ICSID has made substantial progress with its Member States to further modernize its procedural rules for arbitration, conciliation, mediation and fact-finding. Additionally, ICSID has been leveraging technology to transform how cases are conducted—from fully electronic filing to virtual hearings. In sum, ICSID has been adapting its services in ways that meet the current needs of States and investors, avoid fragmentation of the investor-State dispute settlement system, and remain true to its original mission. ICSID is the only multilateral institution dedicated to the resolution of international investment disputes. Its goal: to encourage the flow of crossborder investment for development by ensuring a peaceful means to address disputes between States and foreign investors. T oday, ICSID’s mission is more relevant than ever. The need to maximize private investment to end extreme poverty and boost shared prosperity has only grown in urgency as we confront the immense health, economic and social damage caused by COVID-19. David Malpass President, World Bank Group Chair, ICSID Administrative Council Message from the Chair

2020 ICSID ANNUAL REPORT

5The ICSID Secretariat carries out the day-to-day operations of the Centre. Its composition and principle functions are set out in the ICSID Convention (Articles 9 to 11) and the Administrative and Financial Regulations. The ICSID Secretariat is led by the Secretary-General, who is assisted by two Deputy Secretaries-General. The majority of staff are dedicated to providing professional administrative and financial services to cases. A case management team is assigned to each case, led by an experienced legal counsel and assisted by paralegals and legal assistants. A financial and administrative team oversees the financial aspects of cases, as well as the ICSID budget. It also handles ICSID’s archives, human resources and information technology. The Secretariat also supports ICSID

assisted by paralegals and legal assistants. A financial and administrative team oversees the financial aspects of cases, as well as the ICSID budget. It also handles ICSID’s archives, human resources and information technology. The Secretariat also supports ICSID stakeholders. This includes maintaining up-todate lists of notifications and designations made by Member States, providing courses on request, and publishing guidance notes on ICSID practices and procedures. The Secretariat plays an important role in publishing data on ICSID cases, and fostering awareness of international investment dispute settlement more broadly. ICSID maintains an information-rich website, including databases on cases, membership, and arbitrators, conciliators and committee members. Since 1986, ICSID has also published the world’s leading journal on international investment law, the ICSID Review— Foreign Investment Law Journal. The ICSID Secretariat is amongst the most diverse organizations in the World Bank Group. Seventy-five percent of the Secretariat are women, across all levels and roles. ICSID’s 64 staff members represent 24 nationalities and are fluent in 25 languages. ICSID Secretariat

EXCELLENCE IN INVESTMENT DISPUTE RESOLUTION

664

ICSID STAFF

24

NATIONALITIES

25

LANGUAGES

2020 ICSID ANNUAL REPORT

7SECRETARIAT STAFF AS OF JUNE 30, 2020

SECRETARY-GENERAL

Meg Kinnear

DEPUTY SECRETARY-GENERAL

Gonzalo Flores Martina Polasek

LEGAL STAFF

SENIOR LEGAL ADVISER

Milanka Kostadinova

TEAM LEADER/LEGAL COUNSEL

Aurélia Antonietti Jara Mínguez Almeida Paul-Jean Le Cannu Frauke Nitschke Natalí Sequeira

LEGAL COUNSEL

Francisco Abriani Laura Bergamini Jonathan Chevry Ana Conover Mercedes Cordido-Freytes de Kurowski

Jara Mínguez Almeida Paul-Jean Le Cannu Frauke Nitschke Natalí Sequeira

LEGAL COUNSEL

Francisco Abriani Laura Bergamini Jonathan Chevry Ana Conover Mercedes Cordido-Freytes de Kurowski Aïssatou Diop Geraldine Fischer Benjamin Garel Francisco J. Grob Anna Holloway Alex B. Kaplan Catherine Kettlewell Veronica Lavista Alicia Martín Blanco Sara Marzal Marco Tulio Montañés-Rumayor Leah W. Njoroge Marisa Planells-Valero Ella Rosenberg Celeste Salinas Quero Luisa Fernanda T orres Anna T oubiana

LEGAL COUNSEL— INSTITUTIONAL MATTERS

Daniela Argüello Randi Ayman Celeste Mowatt

PARALEGAL, ADMINISTRATIVE AND

CLIENT SUPPORT STAFF

PARALEGAL

Jacqueline G. Argueta Vanina L. Bauza Colleen Ferguson Ivania Fernández Ayling Kocchiu Ekaterina Minina Phoebe Ngan Céline Pommier Maria-Rosa B. Rinne Federico Salon Kajganich Elizabeth Starkey Marisela Vázquez Marrero

EXCELLENCE IN INVESTMENT DISPUTE RESOLUTION

8LEGAL ASSISTANT

Alix Ahimon Paula Carazo Dante Herrera Guzmán Lanny Isimbi Jennifer Ann Meléndez Mayra A. Román

ADMINISTRATIVE ASSISTANT TO

SECRETARY-GENERAL

Cindy Ayento

PROGRAM ASSISTANT

Sherri Akanni Anita Chen

FINANCIAL AND GENERAL

ADMINISTRATION STAFF

TEAM LEADER/SR. PROGRAM OFFICER

Javier Castro

FINANCIAL OFFICER

Azeb Debebe Mengistu

FINANCIAL ANALYST

Walter Meza-Cuadra Cynthia Nyaoro

HEARINGS AND EVENTS ORGANIZER

Lamiss Al-T ashi

COMMUNICATIONS OFFICER

Damon Vis-Dunbar

INFORMATION TECHNOLOGY ANALYST

Patricia V. Romero

RECEPTIONIST

Rachel Evangelista

RECORDS ASSISTANT

Sebastian Shepherd

2020 ICSID ANNUAL REPORT

9EXCELLENCE IN INVESTMENT DISPUTE RESOLUTION

10By the end of FY2020, ICSID numbered 163 signatories to the ICSID Convention, of which 155 are Contracting States to the Convention. Membership has been expanding since ICSID’s establishment in 1966, reflecting its global relevance and role as the only institution with a primary mandate to support the resolution of international investment disputes. The Republic of Djibouti is the newest Contracting State, having deposited its instrument of ratification with the World Bank on June 9, 2020. All Contracting States are equally represented on the ICSID Administrative Council. As ICSID’s governing body, the Administrative Council adopts the Centre’s annual budget, elects the Secretary-General and Deputy Secretaries-General, and approves the annual report. Contracting States also have the right to propose and vote on amendments to the ICSID Convention and Rules, as well as to designate individuals to the ICSID Panels of Arbitrators and of Conciliators (see page 14 for further information on the Panels). Membership Republic of Djibouti signs the ICSID Convention. © World Bank

2020 ICSID ANNUAL REPORT

11This map was produced by the Cartography Unit of the World Bank Group. The boundaries, colors, denominations and any other information shown on this map do not imply, on the part of the World Bank Group, any judgment on the legal status of any territory, or any endorsement or acceptance of such boundaries.

11This map was produced by the Cartography Unit of the World Bank Group. The boundaries, colors, denominations and any other information shown on this map do not imply, on the part of the World Bank Group, any judgment on the legal status of any territory, or any endorsement or acceptance of such boundaries. Contracting States to the ICSID Convention Signatory States to the ICSID Convention ICSID Contracting and Signatory States as of June 30, 2020

EXCELLENCE IN INVESTMENT DISPUTE RESOLUTION

122020 ICSID ANNUAL REPORT

13The ICSID Panel of Arbitrators and Panel of Conciliators are important components of the ICSID dispute resolution system. When the Chairman of the Administrative Council is called upon to appoint arbitrators, conciliators or ad hoc committee members under Articles 30, 38 or 52 of the ICSID Convention, these appointees are drawn from the Panels. The Panels also provide a diverse and qualified pool of arbitrators and conciliators for parties to consider when making appointments in ICSID cases. Each Member State may designate up to four persons to each of the Panel of Arbitrators and the Panel of Conciliators (Articles 12 to 16 of the ICSID Convention). In addition, the Chairman of the ICSID Administrative Council may designate up to ten persons to each Panel. The designees may be nationals or non-nationals of the designating State and are nominated for a renewable six-year term. ICSID has been encouraging Member States to make designations of open positions on the list, with great success. During FY2020, 22 ICSID Contracting States made 90 designations to the

ICSID Panels: Armenia, Bahamas, Botswana,

Chad, Denmark, Georgia, Germany, Greece, Guatemala, Hungary, Ireland, Kuwait, Latvia, Madagascar, Mongolia, Mozambique, Sierra Leone, Slovak Republic, Somalia, Spain, Sweden, and Uruguay.

ICSID Panels: Armenia, Bahamas, Botswana,

Chad, Denmark, Georgia, Germany, Greece, Guatemala, Hungary, Ireland, Kuwait, Latvia, Madagascar, Mongolia, Mozambique, Sierra Leone, Slovak Republic, Somalia, Spain, Sweden, and Uruguay. By the end of FY2020, there were 687 individuals on the ICSID Panels of Arbitrators and of Conciliators. A complete list of ICSID Panel nominees is available on the ICSID website. The names of designees to the ICSID Panels made in FY2020 follow. ARMENIA Panels of Arbitrators and of Conciliators Designations effective January 24, 2020: Grant Hanessian, Levon Gevorgyan Panels of Arbitrators and of Conciliators Redesignations effective January 24, 2020: Yeghishe Kirakosyan, Thomas J. Samuelian BAHAMAS Panels of Arbitrators and of Conciliators Redesignations effective January 15, 2020: Bertha Cooper-Rousseau, Caryl Lashley, Rubie Nottage BOTSWANA Panels of Arbitrators and of Conciliators Designations effective September 23, 2019: Edward William Fashole Luke, Athaliah Lesiba Molokomme, Sanji Mmasenono Monageng CHAD Panels of Conciliators and Arbitrators Designations effective April 22, 2020: Mbaigangnon Athanase, Stephane Broquet, Victoire Kolingar-Lhermenier, Yenan Timothee DENMARK Panels of Arbitrators and of Conciliators Redesignations effective August 19, 2019: Jan Schans Christensen, Per Magid, Mogens Skipper-Pedersen, Jon Ulrik Stokholm Panels of Arbitrators and of Conciliators

EXCELLENCE IN INVESTMENT DISPUTE RESOLUTION

Redesignations effective August 19, 2019: Jan Schans Christensen, Per Magid, Mogens Skipper-Pedersen, Jon Ulrik Stokholm Panels of Arbitrators and of Conciliators

EXCELLENCE IN INVESTMENT DISPUTE RESOLUTION

14Hearing in the case of Gramercy Funds Management LLC and Gramercy Peru Holdings LLC v. Republic of Peru, Washington, D.C. © ICSID

2020 ICSID ANNUAL REPORT

15GEORGIA Panels of Arbitrators and of Conciliators Redesignation effective February 27, 2020: Paul Friedland Panel of Arbitrators Redesignations effective February 27, 2020: Rolf Knieper, Brigitte Stern

GERMANY

Panel of Arbitrators Designations effective September 12, 2019: Patricia Nacimiento, Stephan Schill, Franco Ferrari Panel of Arbitrators Redesignation effective September 12, 2019: Sabine Konrad Panel of Conciliators Designations effective December 15, 2019: Joachim Knoll, Steffen Hindelang Panel of Conciliators Redesignations effective December 15, 2019: Anke Meier, Sebastian Seelmann-Eggebert

GREECE

Panel of Conciliators Redesignation effective February 4, 2020: Chariton Harry Kyriazis Panel of Conciliators Designations effective February 4, 2020: Zoe Giannopoulou, Lazaros Panourgias, Aphrodite Vassardani Panel of Arbitrators Designations effective February 4, 2020: Nikolas Kanellopoulos, Glykeria Sioutis, Loannis Vassardanis, Dimitris Ziouvas

GUATEMALA

Panel of Arbitrators Designation effective June 25, 2020: Julio Roberto Bermejo Quiñonez

HUNGARY

Panel of Arbitrators Designations effective May 11, 2020: David Kohegyi, Andras Nemescsoi Panel of Arbitrators Redesignations effective May 11, 2020: Janos Martonyi, Attila Menyhard Panel of Conciliators Designations effective May 11, 2020: Csongor Istvan Nagy, Katalin Raffai, Csaba Rusznak, Reka Somssich

IRELAND

Panel of Arbitrators Designations effective January 22, 2020: Louise Reilly, Patrick Leonard Panel of Arbitrators Redesignations effective January 22, 2020: Colm Ó Hoisín, James Bridgeman Panel of Conciliators Designations effective January 22, 2020: Susan Ahern, Klaus Reichert Panel of Conciliators Redesignations effective January 22, 2020: Ercus Stewart, Patricia Moran KUWAIT Panels of Arbitrators and of Conciliators Designations effective February 10, 2020 Ahmed Ghazi Al Abduljaleel, Shahad Khaled Al Muhaini, Abeer Sahib A. Al Rasheed

EXCELLENCE IN INVESTMENT DISPUTE RESOLUTION

16LATVIA Panels of Arbitrators and of Conciliators Redesignations effective February 24, 2020: Inga Kačevska, Eva Kalniņa, Mārtiņš Paparinskis, Ziedonis Ūdris MADAGASCAR Panels of Arbitrators and of Conciliators Designations effective June 2, 2020: Lalaoniaina Odile Andrianarisoa, Raphael Jakoba, Josiane Marie Chantal Razafinarivo, Rivoniaina Razafindrakoto

MONGOLIA

Panel of Arbitrators Redesignation effective March 12, 2020:

Lalaoniaina Odile Andrianarisoa, Raphael Jakoba, Josiane Marie Chantal Razafinarivo, Rivoniaina Razafindrakoto

MONGOLIA

Panel of Arbitrators Redesignation effective March 12, 2020: Michael D. Nolan MOZAMBIQUE Panels of Arbitrators and of Conciliators Designation effective January 24, 2020: Angelo Matusse SIERRA LEONE Panels of Arbitrators and of Conciliators Designation effective January 20, 2020: Patrick Pearsall

SLOVAK REPUBLIC

Panel of Arbitrators Designations effective December 27, 2019: Stephen P. Anway Panels of Arbitrators and of Conciliators Redesignations effective December 27, 2019: Peter T omka, Václav Mikulka

SOMALIA

Panel of Conciliators Designation effective May 6, 2020: Guled Yusuf SPAIN Panel of Arbitrators Designations effective February 4, 2020: Deva Villanua Gomez, Manuel Conthe Gutierrez, Antonio Hierro Hernandez-Mora, Carmen Nunez-Lagos Panel of Conciliators Designations effective February 4, 2020: Katia Fach Gomez, Javier Fernandez Samaniego, Gonzalo Stampa Casas, Mercedes T arrazon Rodon

SWEDEN

Panel of Arbitrators Designations effective March 11, 2020: Christer Danielsson, Jakob Ragnwaldh, Johan Sidklev Panel of Arbitrators Redesignation effective March 11, 2020: Kaj Hobér Panel of Conciliators Designations effective March 11, 2020: Charlotta Falkman, Therese Isaksson, Aisha Nadar, Eric M. Runesson

URUGUAY

Panel of Arbitrators Designations effective August 19, 2019: Paul Arrighi Bustamante, Fernando Jiménez de Aréchaga Pending acceptance

Charlotta Falkman, Therese Isaksson, Aisha Nadar, Eric M. Runesson

URUGUAY

Panel of Arbitrators Designations effective August 19, 2019: Paul Arrighi Bustamante, Fernando Jiménez de Aréchaga Pending acceptance

2020 ICSID ANNUAL REPORT

17Hearing in the case of Eco Oro Minerals Corp. v. Republic of Colombia, Washington, D.C. © ICSID

EXCELLENCE IN INVESTMENT DISPUTE RESOLUTION

18ICSID is the premiere global institution for the resolution of international investment disputes, having administered the vast majority of all known international investment cases. Highlights in FY2020 include a record number of concluded cases, as ICSID continues to work with tribunals and parties to reduce the time and cost of proceedings. Also notable over the fiscal year was progress in enhancing the diversity of arbitrators, conciliators and ad hoc committee members appointed to ICSID cases. A record 44 nationalities were represented amongst the appointments made in FY2020. ICSID Caseload Trends 40

NEW CASES

REGISTERED

303

CASES ADMINISTERED

68

PROCEEDINGS

CONCLUDED

2020 ICSID ANNUAL REPORT

19ICSID CASES ADMINISTERED BY THE SECRETARIAT (FY2003–FY2020)

0 50 100 150 200 250 300 350 63 85 103 130 145 1541 54 159 172195 209 243 118 247 258 279 306 303 A total of 303 ICSID cases were administered in FY2020. This constitutes the second highest number of cases ever administered at ICSID in a single fiscal year. Overall, ICSID has administered 768 cases under the ICSID Convention and Additional Facility Rules since the first case was registered in 1972. A total of 40 new ICSID cases were registered in the fiscal year. The majority were arbitrations

a single fiscal year. Overall, ICSID has administered 768 cases under the ICSID Convention and Additional Facility Rules since the first case was registered in 1972. A total of 40 new ICSID cases were registered in the fiscal year. The majority were arbitrations instituted under the ICSID Convention (37 cases), followed by arbitrations invoking the Additional Facility Rules (three cases).

CASES ADMINISTERED AND REGISTERED IN FY2020

ICSID ADMINISTERED CASES BY FISCAL YEAR

EXCELLENCE IN INVESTMENT DISPUTE RESOLUTION

200 10 20 30 40 50 ICSID Conv/e.altntion Arbitr/a.alttion C/a.alts/e.alts ICSID Addition/a.altl F/a.altcilit/y.alt Arbitr/a.alttion C/a.alts/e.alts37 3 In addition, the number of investment cases administered by ICSID under non-ICSID sets of rules continues to grow, in particular those of the United Nations Commission on International Trade Law (UNCITRAL). In total, ICSID provided a range of services for 21 cases governed by non-ICSID rules in FY2020, compared to 17 in FY2019 and eight in FY2018. In the majority of these cases (16), ICSID provided full administrative services. In some of these cases, ICSID also acted as appointing authority. In the other five cases, ICSID assisted with hearings. BASIS OF CONSENT TO ICSID PROCEEDINGS Arbitration and conciliation under the ICSID Convention and Additional Facility Rules are voluntary, and parties provide consent to ICSID jurisdiction in a variety of investment laws, contracts, and bilateral or multilateral treaties that they have concluded. As in previous years, the majority of cases were instituted on the basis of bilateral or multilateral treaties. Twenty-five cases asserted ICSID jurisdiction on the basis of a bilateral investment

contracts, and bilateral or multilateral treaties that they have concluded. As in previous years, the majority of cases were instituted on the basis of bilateral or multilateral treaties. Twenty-five cases asserted ICSID jurisdiction on the basis of a bilateral investment treaty, and seven were brought on the basis of the Energy Charter Treaty. In addition, two cases were instituted under the U.S.-Colombia Trade Promotion Agreement and in one case the investor sought to establish ICSID jurisdiction on the basis of the North American Free Trade Agreement. For the first time, two cases were brought on the basis of the U.S.-Peru Trade Promotion Agreement. A further five cases were based on contracts between an investor and host State, and two cases were brought on the basis of investment laws. Two cases relied, respectively, on two bases for jurisdiction and one case invoked three bases to establish jurisdiction.

CASES REGISTERED UNDER THE ICSID CONVENTION AND ADDITIONAL FACILITY IN FY2020

2020 ICSID ANNUAL REPORT

2157% 2% 5% 5% 4% 11% 16% Bilateral Investment Treaty Investment Contract between the Investor and the Host-State Energy Charter Treaty U.S.-Peru Trade Promotion Agreement Investment Law of the Host-State North American Free Trade AgreementU.S.-Colombia Trade Promotion Agreement STATE PARTIES TO ICSID PROCEEDINGS States from every geographic region of the world were involved in ICSID proceedings in FY2020. Thirty-two percent of newly registered cases involved States in South America, followed by 20% in Eastern Europe and Central Asia. New cases were fairly evenly spread among Western Europe (13%), the Middle East and North Africa (10%), and Sub-Saharan Africa (10%). A further 7% of newly registered cases involved the Central America and Caribbean region, followed by 5% in North America, and 3% in South and East Asia and the Pacific region.

BASIS OF CONSENT TO ESTABLISH JURISDICTION IN FY2020

of newly registered cases involved the Central America and Caribbean region, followed by 5% in North America, and 3% in South and East Asia and the Pacific region.

BASIS OF CONSENT TO ESTABLISH JURISDICTION IN FY2020

EXCELLENCE IN INVESTMENT DISPUTE RESOLUTION

2213% 10% 20% 32% 3% Eastern Europe & Central Asia Middle East & North Africa South & East Asia & the Pacific South America Central America & the Caribbean North America (Canada, Mexico & U.S.) 10% Western Europe 7% Sub-Saharan Africa 5%

DISTRIBUTION OF CASES REGISTERED IN FY2020 BY REGION

2020 ICSID ANNUAL REPORT

23DISTRIBUTION OF CASES REGISTERED IN FY2020 BY COUNTRY

Mexico Venezuela Colombia 2 Croatia 3 Peru 5 5Panama 2 Spain 2 Italy 1 Lithuania 1 Algeria North America (Canada, Mexico & U.S.) Western EuropeCentral America & the Caribbean Eastern Europe & Central Asia Middle East & North Africa Sub-Saharan Africa South & East Asia & the Pacific South America 1 2 Dominican Republic1 1 Sierra Leone DR Congo1 Cameroon1 1 Saudi Arabia 1 Zambia 1Azerbaijan 1Georgia 2Romania 1 1 Argentina Serbia 1 China1Egypt 1 Iraq Norway 1 Germany 1

EXCELLENCE IN INVESTMENT DISPUTE RESOLUTION

24DISTRIBUTION OF CASES REGISTERED IN FY2020 BY ECONOMIC SECTOR

ECONOMIC SECTORS INVOLVED IN NEW CASES The economic sectors involved in ICSID proceedings are also diverse. Historically, the extractives and energy sectors have accounted for the largest share of cases, and this trend continued in FY2020. Thirty percent of new cases involved the oil, gas and mining industry, and 20% related to electric power and other energy sources. Also prominent were disputes involving

extractives and energy sectors have accounted for the largest share of cases, and this trend continued in FY2020. Thirty percent of new cases involved the oil, gas and mining industry, and 20% related to electric power and other energy sources. Also prominent were disputes involving the construction sector, which accounted for 17% of cases registered in the fiscal year. 20% 30% 5% 17% Oil, Gas & Mining Construction Other Industry 7% Transportation Finance Electric Power & Other Energy Agriculture, Fishing & Forestry Information & Communication10% 5% 3% Services and Trade 3%

2020 ICSID ANNUAL REPORT

25CONSTITUTION OF COMMISSIONS, TRIBUNALS AND AD HOC COMMITTEES A total of 211 appointments were made to ICSID tribunals, commissions and ad hoc committees in FY2020. This represents the second highest number of appointments made in ICSID’s history. These appointments were made to 45 tribunals in original arbitrations and 19 ad hoc committees. In addition, one conciliation commission was constituted and 16 appointments were made in reconstitutions of tribunals, conciliation commissions and ad hoc committees. Sixty-four percent of appointments were made either by the parties or by the pa