Sustainable Investment Policy Perspectives in the Economic Community of West African States (ECOWAS).

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, author, issuing body.

Language:

English

Subjects (All):

Economic development--Africa, West.

Economic development.

Investments, Foreign--Africa, West.

Investments, Foreign.

Physical Description:

1 online resource (105 pages)

Edition:

1st ed.

Other Title:

Sustainable Investment Policy Perspectives in the Economic Community of West African States

Place of Publication:

Paris : Organization for Economic Cooperation & Development, 2024.

Summary:

This report serves as a baseline diagnostic to explore ways to reinvigorate the reform of the ECOWAS investment climate while also improving sustainable outcomes from investment. It also highlights areas where further collaboration between ECOWAS and the OECD could contribute to improved investment climates throughout the region.

Contents:

Intro

Foreword

Executive summary

1 Overview

Introduction

Recent trends in FDI in ECOWAS and estimates of its impact

Key messages and considerations

Designing investment frameworks and strategies to promote sustainable investment

Assessing use and design of investment incentives

Promoting investment for green growth

Promoting and enabling responsible business conduct

References

2 Rebalancing and aligning investment policy for sustainable development

The international regime for investment protection is under increasing strain

Treaty innovations at regional and continental level in Africa

Language in the Preamble and in separate articles

Better delineation of substantive standards of protection, affirmation of the state's right to regulate and general exclusions to seek to preserve policy space on key sustainable development-related matters

Introduction of a broad range of investor obligations and mechanisms to address breaches

State commitments and obligations concerning key sustainable development matters

Alternatives and additions to the traditional ISDS mechanism

Investment laws of the ECOWAS member states

Sustainability language and sustainable development objectives in the most recent laws

Incorporation of sustainable development related obligations for investors and mechanisms to sanction a breach of these obligations

Limited sustainable development related obligations for states

Varying approaches to the availability of arbitration

3 Promoting sustainable investment

Promoting and facilitating investment in ECOWAS

The role of national investment promotion agencies

Promoting investment at regional level

How IPAs support the SDGs: experience from other regions

Priority sectors and sustainability in ECOWAS.

Indicators to prioritise and measure sustainability outcomes of FDI

4 Assessing use and design of investment incentives

Investment tax incentives: opportunities and challenges

Tax incentive design in ECOWAS: insights from the OECD ITID

Full tax exemptions are prevalent in ECOWAS Member States

Eligibility conditions suggest a focus on large investors in key sectors

Sector-based eligibility conditions are widely used

Investment location and size are also key conditions

Outcome conditions focus on export promotion and employment

Many incentives designed to support economic and other development goals

Incentive governance is split between Ministry of Finance and IPA

Assessing the impact of incentives: next steps

Notes

5 Promoting investment for green growth

Green growth and climate change in West Africa

Natural resources are critical for continued development in West Africa

West Africa remains highly vulnerable to climate change

FDI can improve access to clean and affordable energy in the region

Policy framework for green growth and climate change

International commitments to green growth and climate action

Policy framework for environmental protection

Policy approaches to promote green investment

Stimulating investment in green technologies

Building green capabilities and addressing informational barriers to green investment

6 Promoting and enabling responsible business conduct

Promoting RBC to drive trade, investment and sustainable development

Relevance of RBC for ECOWAS and its Member States

The elements of RBC

International instruments on RBC

Risk-based due diligence

Promoting RBC in ECOWAS and its Member States

Policies and initiatives relevant for RBC at the ECOWAS regional level

Overarching policies at ECOWAS level.

Thematic policies and initiatives at ECOWAS level

Sectoral policies and initiatives at ECOWAS level

Policies and initiatives relevant for RBC at the national level

Access to remedy for business-related adverse impacts in ECOWAS

ECOWAS stakeholders' awareness of RBC and related initiatives

Annex 6.A. RBC related frameworks and initiatives

National frameworks related to RBC

CSOs working on RBC related issues

Blank Page.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-59488-4