In my master's thesis, I demonstrate how international investment law, in particular the investor protection clauses, affect the states' decision to enforce norms of international environmental law. This work consists of five parts. I present the development and legal sources of international investment and international environmental law in the first and second part, respectively. In the third part, I discuss the impact of relevant of international investment law on state measures in the field of environmental protection. In the fourth part, I present three fundamental cases, which show the development of the practice of interpreting clauses. The tribunals initially established almost absolute standards of protection of investors' interests, but today the approach is increasingly allowing countries to take measures in the field of environmental protection within the framework of their internal sovereignty, which investors must take into consideration before investing.The final part consists of a short presentation of current developmen of the topic in multilateral investment agreements, such as CETA and TPP.
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