Developing environmental rules within a multilateral framework on foreign direct investment

"We are writing the constitution of a single global economy." The words of Renato Ruggerio, the Director General of the World Trade Organization. Mr. Ruggerio was referring to the negotiations on a Multilateral Agreement on Investment (MAI) by the Organization of Economic Cooperation and Development (OECD). International law lacks a comprehensive multilateral agreement on foreign direct investment. There are however indications that the international community is on the verge of witnessing the birth of such an agreement with the aim of liberalizing foreign direct investment. One of the issues this raises is the fear of environmental degradation. How can environmental problems posed by investment liberalization be reduced or averted? This thesis is a journey in search of an answer to this thorny question. It suggest answers that would ensure that the constitution of a single global economy is written in a manner that would be sensitive to environmental concerns, especially in developing countries.