Gold before Water? Reflections on the Eco Oro v Colombia award

The School of Law at the University of Essex has joined with The Globe Centre at Warwick Law School to welcome you to this rapid response event.

 

Abstract

On 9 September 2021, an arbitral tribunal constituted under the ICSID Convention rendered its award in Eco Oro Minerals Corp v The Republic of Colombia (ICSID Case No. ARB/16/41).
The case involved gold mining activities in the vicinity of the páramo of Santurban, a fragile wetland ecosystem that provides fresh drinking water to millions of Colombians. Local communities protesting against mining activities in the region have long demanded “water before gold”.
After mining was banned in Eco Oro’s concession area to protect the ecosystem pursuant to a Colombian Constitutional Court decision, the mining company filed an investment treaty claim under the Colombia-Canada FTA seeking compensation. Despite the presence of an environmental exception in the treaty, majority of the tribunal held that Colombia’s treatment of Eco Oro breached the minimum standard of treatment incorporated in the Colombia-Canada FTA.
The tribunal held that Colombia’s actions regarding the mining concession located close to the páramo of Santurban were grossly inconsistent and unpredictable, and as such they violated the investor’s legitimate expectations.

The decision already attracted criticism from mainstream and critical investment law scholars. This rapid response event, co-organised by Essex Business and Human Rights Project and GLOBE Centre Warwick brings together experts to discuss the award and its broader implications for local communities and the investment treaty system. 

Discussants 

Dr Lorenzo Cotula, Principal Researcher, International Institute for Environment and Development 

Dr Jean Ho, Associate Professor, Faculty of Law, national University of Singapore

Professor David Schneiderman, Faculty of Law, University of Toronto

Dr Jimena Sierra,  Catalyst Fellow, Osgoode Hall Law School, York University

Professor M Sornarajah, Faculty of Law, National University of Singapore  

Moderator: Dr Anil Yilmaz Vastardis, Senior Lecturer, University of Essex