The Contemporary Era: Sustainable Development and the Resurgence of Public Investment Law

The resurgence of public investment in the contemporary era is inextricably linked to the evolution of Public Investment Law (PIL), particularly in sustainable development imperatives and the changing dynamics of state-market relations. This article takes a close look at the changes in the law that have affected public investment frameworks in the 21st century. It focuses on how PIL has changed to include environmental, social, and governance (ESG) standards, change the way investors and states interact, and protect the sovereign right to regulate in the public interest. This paper uses comparative legal analyses, international soft law developments, doctrinal theories, and leading jurisprudence to show how national legal systems, international investment law, and sustainable development goals affect each other in complex ways1.