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Many infrastructure projects around the world are funded through
the project finance method, which combines private financing with
public sector backing from multilateral finance institutions such
as the World Bank. This examination of the theoretical and
practical implications of such funding begins with a discussion of
the relationship between the financial structuring of these
projects and finance, policy and legal disciplines, especially in
the form of investment law, human rights and environmental law. A
number of case studies are then examined to provide practical
insights into the application (or otherwise) of human rights and
sustainable development objectives within such projects. While
these theoretical perspectives do not conclude that the project
finance method detracts from the application or implementation of
human rights and sustainable development objectives, they do
highlight the potential for the prioritisation of investment
returns at the expense of human rights and environmental protection
standards.
It is now more than ten years since the 1982 United Nations
Convention on the Law of the Sea (LOSC) came into force and more
than twenty years since it was concluded in December of 1982 after
more than nine years of negotiations. The famous "package deal"
that it represented addressed many of the problematic issues that
previous conventions had been unable to settle. This collection of
essays, by leading academics and practitioners, provides a critical
review of the LOSC and its relationship to and interface with the
wide range of developments which have occurred since 1982. The
individual chapters reveal a number of core themes, including the
need to maintain the integrity of the LOSC and its centrality to
oceans regulation; the tension between regional global regimes for
oceans governance and the struggle to reconcile these within the
LOSC; the gradual consolidation of authority over oceans space; the
difficulty of adapting some of the more dated provisions of the
LOSC to deal with unforeseen contemporary issues of oceans use; and
the consequent development of the general obligations of the LOSC
through binding and non-binding agreements. They clearly indicate
the potential impact and role of post-LOSC agreements and
institutions in developing the law of the sea and resolving some of
the outstanding substantive issues. From this it is clear that the
future of the Law of the Sea will involve an understanding of the
wider legal environment within which it operates.
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