During the sixth edition of Washington Arbitration Week (WAW), Partner Glenn R. George, PhD spoke on the panel “Valuation in ISDS Disputes in an Era of Climate Transition,” which was hosted by Bates White.
Panelists covered a wide array of topics, including the impact on valuation of the International Court of Justice July 2025 advisory opinion regarding states’ obligations to regulate greenhouse gas emissions (including private actors’ conduct). They also discussed which methods are most appropriate when valuing stranded fossil fuel assets; how best to deal with data limitations when projecting energy market risks tied to climate policy; how experts should incorporate carbon pricing, changing demand, and global transition scenarios (IEA, IPCC) into valuation models; and how to construct a but-for world for a coal or oil project, viz., whether to assume business as usual or factor in the policy trend toward early closure.
The panel was moderated by Sara Marzal Yetano, Legal Counsel for ICSID. Dr. George’s co-panelists included Kenneth J. Figueroa, Partner at Foley Hoag, and Laura Smith, Partner at HKA.
WAW is a forum for the international arbitration community, where practitioners, arbitrators, academics, and public officials come together to discuss the latest developments in the field and share best practices.
