Final published version
Licence: CC BY-NC-ND: Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
Research output: Contribution in Book/Report/Proceedings - With ISBN/ISSN › Chapter (peer-reviewed) › peer-review
Research output: Contribution in Book/Report/Proceedings - With ISBN/ISSN › Chapter (peer-reviewed) › peer-review
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TY - CHAP
T1 - The Protection of Indigenous Cultural Heritage in International Investment Law and Arbitration
AU - Vadi, Valentina
PY - 2020/2/1
Y1 - 2020/2/1
N2 - The protection of cultural heritage is a fundamental public interest that isclosely connected to fundamental human rights and is deemed to be amongthe best guarantees of international peace and security. Economic globalizationand international economic governance have spurred a more intense dialogueand interaction among nations—potentially promoting cultural diversity andproviding the funds to recover and preserve cultural heritage. However, thesephenomena can also jeopardise cultural heritage. Foreign direct investments inthe extraction of natural resources have the potential to change cultural landscapes and erase memory, and foreign investments in the cultural industries can induce cultural homogenization. In parallel, international investment law constitutes a legally binding and highly effective regime that demands that states promote and facilitate foreign direct investment. Does the existing legal framework adequately protect indigenous cultural heritage vis-à-vis the economic interests of foreign investors? This chapter aims to address this question by examining recent arbitrations and proposing legal tools to foster a better balance between economic and cultural interests in international investment law and arbitration.
AB - The protection of cultural heritage is a fundamental public interest that isclosely connected to fundamental human rights and is deemed to be amongthe best guarantees of international peace and security. Economic globalizationand international economic governance have spurred a more intense dialogueand interaction among nations—potentially promoting cultural diversity andproviding the funds to recover and preserve cultural heritage. However, thesephenomena can also jeopardise cultural heritage. Foreign direct investments inthe extraction of natural resources have the potential to change cultural landscapes and erase memory, and foreign investments in the cultural industries can induce cultural homogenization. In parallel, international investment law constitutes a legally binding and highly effective regime that demands that states promote and facilitate foreign direct investment. Does the existing legal framework adequately protect indigenous cultural heritage vis-à-vis the economic interests of foreign investors? This chapter aims to address this question by examining recent arbitrations and proposing legal tools to foster a better balance between economic and cultural interests in international investment law and arbitration.
M3 - Chapter (peer-reviewed)
SN - 9788832136920
SP - 203
EP - 251
BT - The Inherent Rights of Indigenous Peoples in International Law
A2 - Di Blase, Antonietta
A2 - Vadi, Valentina
PB - Roma Tre Press
CY - Rome
ER -