Council Decision (EU) 2024/2118 of 25 June 2024 on the signing, on behalf of the European Union, of the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration

The signing on behalf of the European Union of the Convention on Transparency in Treaty-based Investor-State Arbitration (‘the Convention’) is hereby authorised, subject to the conclusion of the said Convention.

The Commission shall ensure the signing of the Convention.

When signing the Convention on behalf of the Union, the Commission shall make a reservation in accordance with article 3(1)(a) of the Convention according to which the Union shall not apply the United Nations Commission on International Trade Law (UNCITRAL) Rules on Transparency in Treaty-based Investor-State Arbitration (‘the Rules’) when acting as a respondent in the case of a dispute initiated pursuant to the Energy Charter Treaty against a Member State which is not a party to the Convention unless agreed upon otherwise with the Member State concerned.

Five years after the entry into force of the Convention for the Union, the Commission shall submit a report on the operation of the Rules in disputes where the Union has been acting as a respondent. On the basis of that report, the Council, on a proposal from the Commission, shall re-evaluate the reservation referred to in Article 3 and adopt a decision on the amendment or withdrawal of that reservation. If no agreement can be found in the Council, the reservation referred to in Article 3 shall remain valid, subject to periodic review every five years. The Council shall adopt a decision on the withdrawal of that reservation if all Member States conclude the Convention or when Article 47(3) of the Energy Charter Treaty ceases to have effect for the Union.

This Decision shall enter into force on the date of its adoption.