As 2024 draws to a close, my colleagues and I at ICSID would like to extend our warmest wishes for a restful holiday season and a joyous new year.
It has been another busy and productive year for ICSID. We registered 55 new cases, including our 1000th case under the ICSID Convention and Additional Facility Rules. In total, we administered over 325 cases and concluded 73, with 57 awards rendered. Additionally, we received several requests for mediation under the 2022 ICSID Mediation Rules and requests for Expedited Arbitration under Chapter XII of the 2022 ICSID Arbitration Rules.
The Panels of Arbitrators and Conciliators expanded to 727 members, thanks to the 18 Member States who designated new members in 2024. We were also pleased to welcome Equatorial Guinea as the latest State to ratify the ICSID Convention.
Partnerships
ICSID has been actively collaborating with organizations worldwide to promote knowledge and capacity building in investor-State dispute settlement. In 2024, we entered into cooperation agreements with the Vienna International Arbitration Center (VIAC) and the Saudi Center for Commercial Arbitration (SCCA). These agreements enable parties in proceedings governed by the procedural rules of these institutions to conduct hearings at ICSID, and for ICSID hearings to be hosted at their facilities. We will continue to strengthen ICSID's global presence and services through such initiatives.
Global Outreach
ICSID also continued its robust outreach program, with staff contributing extensively to conferences and training programs around the world. Notably, ICSID hosted the first African Arbitration Day in Washington D.C., in collaboration with the World Bank and other key partners.
Young ICSID
In 2024, Young ICSID's network continued to grow, reaching over 3,000 members worldwide. Young ICSID has been actively building its presence globally, publishing a series of interviews with young professionals in the field of international investment law and dispute settlement, and organizing numerous events throughout the year.
Publications
Finally, ICSID published two significant background papers on Annulment of ICSID Awards and Compliance with and Enforcement of ICSID Awards. These papers aim to examine the functioning of annulment proceedings under the ICSID Convention and the regime governing compliance with recognition, enforcement, and execution of an ICSID Convention Award. In addition, the ICSID Review - Foreign Investment Law Journal has continued to serve its role as a leading independent peer-reviewed journal focused on international investment law and dispute settlement. In 2024, the journal published more than 39 lectures, articles, notes, case comments, practice notes, and book reviews from prominent academics and practitioners. The Review also featured a Special Agora on Investor-State Dispute Settlement and Armed Conflict, addressing a timely and important issue in the field of investment dispute settlement.
We extend our heartfelt thanks to our Member States, all participants in proceedings, and our partners for making these accomplishments possible. We would also like to extend our gratitude to Meg Kinnear, who completed her term as Secretary-General of ICSID on June 30, 2024, for her dedicated service to the institution over the past 15 years.
We look forward to working with you and welcoming you to ICSID in 2025.
With best wishes,
Martina Polasek
Secretary-General, ICSID
