Inspiration behind the Stockholm Treaty Lab

Ambitious targets for curbing global warming were laid out in the 2015 Paris Agreement and the Sustainable Development Goals. Targets that, if they are to be met, will require investments amounting to trillions of dollars across the globe. Renewable energy must become even more affordable and available; energy-efficient transportation will be needed to carry an increasingly mobile world population; sustainable agriculture and forest restoration must substitute unsustainable land use and deforestation; and climate-resilient infrastructures must be built where global warming and rising sea levels already put communities at risk.

To some extent, the technologies necessary already exist – solar and wind power, energy-efficient vehicles, and carbon capture and storage – but enormous investments are needed to deploy these on a meaningful scale. In other areas, existing technologies fall short, and investments must be made in innovation and development. Such “green” investments present exciting and lucrative opportunities for investors.

Foreign investments tend to increase where they are protected by a stable and transparent legal framework, including a neutral and reliable enforcement mechanism. In the absence of such a framework, investors are often hesitant to deploy their funds. Yet no international legal instrument exists that specifically incentivizes and protects green investments. It is against this background that the SCC and its partners are launching the Stockholm Treaty Lab Prize  – an innovation prize that aims to address the “policy gap” between the objectives of the international climate change agreements, and the outcomes that those agreements envision.

The Stockholm Treaty Lab will be awarded to the contestant team that drafts a forward-looking, innovative and workable model treaty that aims to encourage investment in climate change mitigation and adaptation.

Innovators from around the globe join Stockholm Treaty Lab

Through the network of the Arbitration Institute of the Stockholm Chamber of Commerce and collaboration with HeroX, the crowdsourcing platform, the competition has attracted innovators from all corners of the world.

By the closing of registration, 43 teams have registered to compete at this crowdsourcing challenge, representing some 270 innovators from four continents and more than 25 countries.

See the Innovator Map here

What happened since the deadline of submission?

The deadline for submissions to the Stockholm Treaty Lab innovation contest passed on 28 February 2018. A total of 22 teams from around the world submitted entries, including their proposed texts for a model treaty seeking to generate and protect green investments.

The jury has selected two finalists to enter the second round of competition. The winner is expected to be announced by mid-July.