Investment policy

2023 Conference: Investment treaties, the Paris Agreement and Net Zero - Towards alignment?


11 April 2023, 9h30-18h CET 


Go to Conference webpage with agenda, speakers and videos


Governments at the OECD have initiated the first major multilateral effort to consider climate policies for investment treaties. This responds to growing demands to take action on the climate impacts of the investment treaty regime. In its 2022 report, for instance, Working Group III of the United Nations’ Intergovernmental Panel on Climate Change (IPCC) expressed concern about the role of existing investment treaties and investor-state dispute settlement for fossil fuel regulation. As climate considerations increasingly permeate other areas of international economic governance – most notably within the world of finance, from central banks and securities regulators to export finance – climate concerns with an investment treaty regime closely associated with high-carbon investment have intensified.

The 2022 OECD Investment Treaty Conference considered the question of how to align investment treaties with the Paris Agreement and Net Zero. The 2023 Conference returned to those issues one year later, against a backdrop of growing climate action, new challenges and increasing public attention. The 2023 Conference benefited from the government thinking and action prompted by and reported in the first-ever survey of climate policies for investment treaties as well as an earlier 2022 public consultation.

Conference sessions included the latest analysis from senior climate, energy and financial policy leaders of the climate crisis, the Paris Agreement, Net Zero alignment, emissions from different sectors and other developments relevant to investment policies; identification of obstacles to Paris and Net Zero commitments for investment treaty policies and how they might be addressed; consideration of immediate action on finance flows associated with investment treaties and in particular the policy debate and proposals with regard to immediate carve-outs of coverage of fossil-fuel related investment; and complementary policies and proposals for Paris and Net Zero alignment including climate policy space and treaty implementation mechanisms, as well as the potential for greater investment treaty contributions to the energy transition and low carbon investment.

The Conference was held in person with a degree of hybrid participation. It was an important occasion for joint work on key climate policies.

Watch all 2023 Conference Sessions

Watch all 2022 Conference Sessions




Survey of climate policies for investment treaties

Public consultation on investment treaties and climate change

The Future of Investment Treaties work programme

OECD Freedom of Investment Roundtable

OECD work on international investment law



2022 - Investment Treaties and Climate Change: Paris Agreement and Net Zero alignment

2021 - The future of investment treaties 

2020 - Business responsibilities and investment treaties

2019 - Investment treaties and level playing fields

2018 - Treaty shopping and tools for investment treaty reform

2017 - Evaluating and enhancing outcomes of investment treaties

2016 - The quest for balance between investor protection and governments’ right to regulate

2015 - Investment treaties: Policy goals and public support


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