no new rights for big business at the wto

Friends of the Earth International opposes the proposed WTO investment agreement, asserting it would prioritize corporate rights over the environment and public interest. The organization cites the failure of the Multilateral Agreement on Investment (MAI) and the negative impacts of NAFTA Chapter 11 as evidence of the risks associated with investor-state dispute mechanisms. It further argues that there is no empirical evidence that foreign direct investment (FDI) leads to sustainable development, noting that many developed nations used the very policy tools they now seek to deny developing countries. The paper recommends that the WTO reject 'procedural modalities' for investment talks, reexamine GATS Mode 3 commitments, and abandon TRIMS rules that hinder local development. Instead, it advocates for corporate accountability rules to be negotiated in social and environmental forums rather than within the WTO.

• The proposed WTO investment agreement would prioritize the rights of multinational corporations over the environment and public interest, potentially halting development policies aimed at reducing poverty and economic inequality.
• Past investment frameworks, such as NAFTA Chapter 11, have been used to challenge environmental protections, including local opposition to hazardous waste sites and regulations on the transboundary transport of toxic PCBs.
• There is a lack of empirical evidence proving that foreign direct investment (FDI) leads to sustainable or equitable development; the UNDP found no clear correlation between FDI volume and development success.
• Developed countries are attempting to prevent developing nations from using the same policy tools, such as performance requirements, that they themselves used to develop their own industries.
• Specific investment rules, such as 'non-discrimination' disciplines, could prohibit preferences for local sustainable production, undermine indigenous resource rights, and force the opening of public services like water supply to multinational companies.
• The WTO's existing General Agreement on Trade in Services (GATS) Mode 3 and the Agreement on Trade-Related Investment Measures (TRIMS) already restrict the ability of governments to pursue community-oriented and environmental policies.
• Binding rules for corporate accountability should be developed in multilateral social and environmental forums rather than the WTO, which is dominated by commercial interests.

APA

Friends of the Earth International (2003). no new rights for big business at the wto. https://www.foei.org/wp-content/uploads/2020/12/investment-english-final_letter.pdf

Chicago

Friends of the Earth International. no new rights for big business at the wto. 2003. https://www.foei.org/wp-content/uploads/2020/12/investment-english-final_letter.pdf.

Wikipedia

{{cite press release |author=Friends of the Earth International |title=no new rights for big business at the wto |date=August 2003 |url=https://www.foei.org/wp-content/uploads/2020/12/investment-english-final_letter.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{friendsoftheearthinternational2003new, author = {{Friends of the Earth International}}, title = {{no new rights for big business at the wto}}, publisher = {Friends of the Earth International}, year = {2003}, month = aug, url = {https://www.foei.org/wp-content/uploads/2020/12/investment-english-final_letter.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }