TRENDS AND DEVELOPMENTS IN INTERNATIONAL ARBITRATION

CD: In your opinion, what key developments have dominated the international arbitration space over the past 12 months or so? Have you noted any sector-specific trends, for example?

Rubinstein: I have noticed several developments in international arbitration. First, the enforcement of arbitral awards. This issue continues to attract significant attention, particularly with respect to enforcement of arbitral awards against states in light of ongoing developments in the European Union (EU) with respect to enforceability of intra-EU arbitration agreements. Second, climate change and energy transition disputes. Arbitral institutions are developing rules and protocols to address the specific needs of these disputes, and early landmark cases will shape the future of climate change arbitration. Third, alternative energy disputes. We are seeing an increase in disputes involving alternative energy sources, including hydrogen and renewables, as well as precious minerals such as lithium that are essential to energy storage technology. Fourth, a push for transparency and disclosure. The new United Nations Commission on International Trade Law Code of Conduct for arbitrators in international investment dispute resolution and the revised International Bar Association Guidelines on conflicts of interest will continue to keep arbitrator independence and impartiality in the spotlight. Lastly, artificial intelligence (AI). There also is significant focus on the opportunities and risks of using generative AI (GenAI) in arbitration.

Johnson: After a slowdown during the coronavirus (COVID-19) pandemic and its immediate aftermath, there has been a dramatic increase in construction projects, particularly in the Middle East. Construction-related disputes are often resolved through the arbitration process. With the number of projects and associated deadlines and funding in the marketplace, we could see an increase in construction-related arbitration hearings over the next several years.

Oct-Dec 2024 issue

Rubinstein ADR, LLC

FTI Consulting, Inc.