Of the 60 cases registered worldwide, the Aztec country received 10 lawsuits related to mining, renewable energy and railway transportation, mainly.
Mexico had the highest number of lawsuits by investors against States in the world in 2023, according to data from the United Nations Conference on Trade and Development (UNCTAD).
In 2023, 60 known treaty-based investor-state dispute settlement cases were initiated: 48 cases at the International Center for Settlement of Investment Disputes (ICSID, operating under the auspices of the World Bank Group) and 12 cases before other forums. .
Of those 60 new arbitrations, around 70% were filed against developing countries, including three Least Developed Countries (Myanmar, Senegal and the United Republic of Tanzania). Investors in the construction, manufacturing and extractive industries sectors accounted for more than half of the claims.
To date, 132 countries and one economic grouping are known to have been sued in one or more ISDS lawsuits. New cases in 2023 were initiated against 37 countries and one economic grouping (the European Union).
Mexico was the most frequent defendant country, with 10 new known cases, related to mining, renewable energy and railway transportation, among other activities. Some of the companies that sued Mexico are Caisse de dépôt et placement du Québec (Canada), CDP Groupe Infrastructures (Canada), First Majestic Silver Corp. (Canada), Silver Bull Resources (United States), Access Business Group (United States ) and Goldgroup Resources (Canada). Honduras faced five cases, followed by Argentina and Venezuela, with three cases each. Most of the claims were directed to countries in Latin America and the Caribbean, with about half of the 60 cases.
In regional terms, between 1987 and 2023, the defendant States in Europe and in Latin America and the Caribbean each represented around 30% of the total of 1,332 known cases.
Plaintiffs from developed countries filed the majority (about 75%) of the 60 cases known in 2023.
The largest number of cases were filed by plaintiffs from the United States (13), the United Kingdom (8), and Switzerland (5). Between 1987 and 2023, plaintiffs invoking the international investment agreements of five countries – the United States, the Netherlands, the United Kingdom, Germany and Spain – brought about 45% of the 1,332 known ISDS cases.
Because some arbitrations may remain confidential, the actual number of arbitrations filed in 2023 (and prior years) is likely to be higher. In the last 10 years, the total number of cases has more than doubled. At the end of 2013 there were fewer than 600 known cases.
In 2023, the largest number of cases were filed by plaintiffs from the US (13), the United Kingdom (8), and Switzerland (5).
