What the ICSID Tribunal in Eco Oro v Colombia said about the merits of Eco Oro’s claim

Colombia’s failure to comply with its legal obligations to delimit the Santurbán Páramo pursuant to the provisions of Colombian law lay at the heart of the dispute and its subsequent acts only served to compound and exacerbate it – actions which the Tribunal held were inconsistent with its stated aim to protect páramo ecosystems and which caused Eco Oro to be subjected to “a regulatory roller-coaster.”

On 9 September 2021, the ICSID Tribunal in Eco Oro v Colombia delivered a split ‘Decision on ‘Jurisdiction, Liability and Directions on Quantum.’

This report focuses on what the Tribunal said on the merits of Eco Oro’s claim.

An overview of the dispute’s background and procedural history (so far) can be accessed here, while a summary of what the Tribunal had to say on jurisdiction can be accessed here.