April 19, 2021: Today the Secretariats of the International Centre for Settlement of Investment Disputes (ICSID) and the United Nations Commission on International Trade Law (UNCITRAL) released an update to the draft Code of Conduct for Adjudicators in International Investment Disputes.

Version two of the draft Code of Conduct reflects extensive discussion and feedback on the original draft Code, which was published in May 2020.  

Among the changes in version two is a re-ordering of certain articles based on recommendations from State representatives and other stakeholders. An effort has also been made to streamline the text. The draft includes an explanation of the changes proposed.

UNCITRAL and ICSID are also developing a paper that addresses possible methods of implementing the Code of Conduct, to be issued separately.

Background on the Draft Code of Conduct

The Code of Conduct is being developed jointly by the ICSID and UNCITRAL Secretariats in the context of UNCITRAL Working Group III (ISDS reform) and ICSID’s amendment of its procedural rules. It provides applicable principles and detailed provisions addressing matters such as independence and impartiality, and the duty to conduct proceedings with integrity, fairness, efficiency and civility. It draws from a comparative review of standards found in codes of conduct in investment treaties, arbitration rules applicable to investor-State dispute settlement, and of international courts.

Comments on version two of the draft are welcome and may be sent to the UNCITRAL Secretariat (uncitral@un.org) and ICSID Secretariat (icsidsecretariat@worldbank.org).

Further information and resources related to the Code of Conduct are available on the UNCITRAL and ICSID websites: