The Stockholm Treaty Lab Prize is an innovation contest that targeting contestant teams that drafts a forward-looking, innovative and workable model treaty that aims to encourage investment in climate change mitigation and adaptation. A treaty that, if implemented, would create transparent, stable and enforceable investment policy regimes. A treaty that has the potential to encourage investors to fund low-carbon projects, support technological innovation, and otherwise invest in a sustainable future.
We believed that in order to be successful, contestant teams must be multidisciplinary – and include lawyers, economists, scientists, and climate change experts. We envisioned that teams would draw inspiration from the existing regime of international investment agreements, which encouraged foreign investments by ensuring market liberalization, fair treatment of investors, and neutral enforcement through arbitration. But we were hoping that contestant teams will use their combined expertise to think outside of the box and draft creative and innovative treaties.
Measuring the contestant submissions against the competition criteria, the jury decided not to select a grand prize winner, but rather to commend two teams for their unique approaches to the challenge.
These commended teams will be offered broad exposure, and an opportunity to engage in this important question on a global level. So far, this will include the opportunities for one representative of the commended teams to present the model treaty at the following events:
New York, 28 September 2018: an event alongside the 73rd session of the United Nations General Assembly: The 13th Annual Columbia International Investment Conference: ”Multinationals in the Age of Sustainable Development: New Thinking on the Role of International Investment Agreements”.
Davos, January 2019: The 5th Annual Swedish Lunch at the World Economic Forum in Davos.
Global exposure for non-finalists
The aim of the Stockholm Treaty Lab is not limited to selecting the best complete model treaty—it is also to celebrate and publicize all innovative solutions to the climate change challenge. Our aim is for as many ideas as possible to reach a wider audience, even where the model treaty that contained them did not make it to the final round of the innovation contest.
For the purpose of achieving the greatest possible exposure for the innovative ideas presented in the contest, the Stockholm Treaty Lab has partnered with Wolters Kluwer to compile special edition of the Journal of International Arbitration. All teams will be invited to develop their contest submission into an article for potential publication.