Balancing Developing Countries’ Efforts To Attract Foreign Investment For Infrastructure Projects While Meeting Environmental Obligations: A Critical Study

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Twinkle Kwatra, IILM University

ABSTRACT

This research paper deals with whether developing countries could make a balance between foreign investment and their environmental obligations for that it explores how China’s belt and road initiative (BRI) a landmark initiative caused environmental damage and how it affected developing countries.This paper also examined the UNCTAD World investment report 2023, and highlights its emphasis on environmental concerns (chapter 1). It talks about the challenges faced by developing countries in accordance with Article 4 of Paris agreement (chapter 2). Further case studies like Kenya's Lake Turkana Wind Power Project (LTWP) and Tamil Nadu Polution Control Board vs Sterlite Industries (I) Ltd have been discussed in details what lead to their success and failure respectively (chapter 3). Some of the mechanism for balancing development and environment have also been explored like Environmental Impact Assessments (EIA) which helps to evaluate environmental impact of the proposed development and role of various international institutions like International Monetary Fund (IMF), World Bank, Green Climate Fund (GCF), Global Environment Facility (GEF) and International Centre for Settlement of Investment Disputes (ICSID) have also been discussed (chapter 4). A comprehensive analysis of the nexus between foreign investment, infrastructure growth and environmental concerns in developing countries is presented in the following chapter (chapter 5). Lastly, the study concludes that support of international organizations and a strong legal framework helps developing countries to make a balance between foreign investment and environmental obligations (chapter 6).

BALANCING DEVELOPING COUNTRIES’ EFFORTS TO ATTRACT FOREIGN INVESTMENT FOR INFRASTRUCTURE P.

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