The International Centre for Settlement of Investment Disputes (ICSID) registered a record 57 cases in FY2018 under its trademark ICSID Convention Rules and Regulations and Additional Facility Rules.
The FY2018 figure, published today in the latest edition of ICSID Caseload – Statistics, represents a 16% increase over the number of cases filed in FY2017 (49). Overall, ICSID administered a record 279 cases over the last fiscal year, equal to 41% of ICSID's entire caseload since 1972.
ICSID has seen a gradual increase in its caseload over the last 15 years—a trend that correlates with the cumulative growth in international investment agreements and expanding stock of foreign direct investment.
As in past years, the majority of new cases were instituted under the ICSID Convention Arbitration Rules (50 cases), followed by the Additional Facility Rules (6 cases), and ICSID Convention Conciliation Rules (1 case). A further 8 cases were administered under the UNCITRAL Rules and 6 under other rules.
The largest share of newly registered cases in FY2018 involved States from Eastern Europe and Central Asia (40%), followed by Sub-Saharan Africa (19%), the Middle East and North Africa (14%), South America (12%), South and East Asia, and the Pacific (5%). States from North America and Western Europe each accounted for 4% cases registered, while Central America and Caribbean States were involved in 2% of new cases.
Cases continued to be spread amongst a broad range of economic sectors. Disputes in the oil, gas and mining sector accounted for 21% of cases registered in FY2018, followed by electric power and other energy sources (16%) and finance (12%). New cases also involved construction (11%), tourism (7%), agriculture, fishing and forestry (6%), services and trade (5%), information and communication (5%), water, sanitation and flood protection (4%) and transportation (2%). A mix of other industry accounted for the remaining 11% of cases registered in FY2018.
Forty-six cases concluded in FY2018. Sixty-five percent of these disputes were decided by a tribunal, and the remaining 35% were settled or otherwise discontinued. Of the cases that concluded with a tribunal decision, 63% upheld the investors' claims in part or in full. In addition, six awards declined jurisdiction (25%), and three tribunals rejected all of the investors' claims (12%).
A diverse group of arbitrators, conciliators and ad hoc committee members were appointed to ICSID cases in FY2018. Overall, 143 different individuals, of 42 nationalities, were named to serve in ICSID cases in FY2018. This represents a 50% increase in the pool of arbitrators and conciliators compared to the previous fiscal year.
The ICSID Secretariat publishes the ICSID Caseload – Statistics bi-annually in English, French and Spanish.