Investment Law in the Twenty-First Century: Things Will Have to Change in Order to Remain the Same

The future of investment law has in store fundamental shifts, not incremental changes, in three substantive issue areas, which pose immense challenges to the system as it currently stands, namely, climate change, national security, and investor obligations. This article describes those challenges and argues that for these shifts to be accommodated, abolition is not desirable, but reform is necessary and urgent. It suggests procedural ways forward.