Environmental Engineering Reference
In-Depth Information
3.1.1 The Desertec Concept and Investment Security
Over the last few decades, several different projects have been brought up before
ICSID tribunals. These included everything from small to large scale projects.
Despite the fact that almost none of these projects had something to do with
renewable energy, the ICSID dealt with numerous projects related to energy.
As mentioned above, the ICSID is part of the World Bank group as one of the
five institutions. The World Bank was founded in 1944 to rebuild Europe after
World War II.
5
During the 1950s, this changed and the World Bank focused more
on development aid for “third world countries”.
6
In 2009, four institutions of the
World Bank group expressed their support of renewable energies in a special
report.
7
These four institutions are the International Bank for Reconstruction and
Development (IBRD), the International Development Association (IDA), the Inter-
national Finance Corporation (IFC), and the Multilateral Investment Guarantee
Agency (MIGA).
8
Nevertheless, the ICSID was not part of this group of supporting
World Bank institutions.
9
Within a different Annex to the 2009 report, it was
pointed out that the ICSID does not directly support any renewable energy or
energy efficiency activities.
10
It would be wrong to assume that the Desertec
Concept will receive special treatment just because of its benefits for the environ-
ment and the people.
3.1.2
Investment in Africa
Africa is still considered a high risk area of the world for foreign investment.
11
In
most cases, only the strong African countries are supported, whereby there are only
scattered activities to promote and develop science and technology in Africa.
12
Overall, only 3 % of all FDIs take place in Africa.
13
Investments are very important
for developing states as they get more money from investments than from devel-
opment aid.
14
African states support the improvement of tertiary education, the
improvement of the local environment, cooperation concerning environmental
5
Schobener and Markert (
2006
), 65 (66).
6
Schobener and Markert (
2006
), 65 (66-67).
7
IBRD (
2009
), 53.
8
IBRD (
2009
), 53.
9
IBRD (
2009
), 53.
10
IFC (
2010
), 47 (47).
11
Abraham (
2009
), 206 (212).
12
Saß (
2009
), 27 (28) and (29).
13
Krajewski (
2009
), 167.
14
Tietje (
2003
), 5 (7).
