SYDNEY, 27 March - The Business Council for Sustainable Development Australia (BCSDA) has made formal submissions to the Department of Foreign Affairs and Trade (DFAT) regarding the renegotiation of Australia’s Bilateral Investment Treaties (BITs) with Argentina, Pakistan, and Türkiye. These submissions reflect BCSDA’s commitment to shaping policy frameworks that foster responsible investment, safeguard regulatory autonomy, and champion sustainable development.
With climate concerns rising and international sustainability goals becoming increasingly urgent, BCSDA underscores the importance of aligning these treaties with global best practices, including Environmental, Social, and Governance (ESG) standards. By integrating progressive and transparent provisions, Australia can encourage high-quality, responsible investment while still preserving flexibility for public policy measures that support long-term social and economic growth.
“Modernising Australia’s Bilateral Investment Treaties is a unique opportunity to future-proof our foreign investment framework,” said Andrew Petersen, CEO of BCSDA. “We need treaties that not only protect Australian business interests abroad, but also uphold the highest standards of environmental stewardship, social responsibility, and good governance. By prioritising balanced provisions that preserve the right to regulate in the public interest, we can drive innovation, create meaningful jobs, and position Australia as a global leader in responsible investment.”
In each submission - prepared separately for Argentina, Pakistan, and Türkiye - BCSDA advocates for:
Right to Regulate: Clear provisions affirming Australia’s capacity to enact legitimate public policy measures focused on health, environmental protection, and sustainable economic development.
Investor Protection with ESG Alignment: Investor-state dispute mechanisms and protections that encourage long-term, responsible investment aligned with ESG standards.
Clarity in Sensitive Sectors: Tailored exclusions and carve-outs safeguarding national security, cultural identity, and essential public services.
Future-Proofing and Regular Review: Built-in mechanisms for ongoing treaty revision, enabling adaptation to emerging technologies, evolving environmental priorities, and global policy shifts - particularly concerning climate commitments.
BCSDA’s submissions draw on its extensive experience in representing Australian businesses that are committed to the United Nations Sustainable Development Goals (UN SDGs) and aligned with global best practices, including those championed by the World Business Council for Sustainable Development (WBCSD). By promoting such standards in international investment treaties, BCSDA underscores the critical role that policy certainty and robust partnerships play in scaling up sustainable business solutions.
About BCSD Australia
The Business Council for Sustainable Development Australia is a non-profit organisation dedicated to operationalising sustainable development practices among Australian businesses. BCSD Australia was established in Australia in 1991 and works with over 70 leading global businesses and other organisations to drive systemic transformation in key sectors, advocating for sustainable leadership and rewarding action through education, partnerships, and policy influence.
In 2014 the organisation was appointed Australia’s Network Partner for World Business Council for Sustainable Development (WBCSD).
BCSD Australia’s members believe that by integrating social and environmental impacts with financial results, business lowers its risk profile, makes better decisions and creates the solutions needed to meet the Sustainable Development Goals.
BCSD Australia’s members include leading Australian businesses, from all sectors, who share a commitment to economic, environmental and social development. It represents member companies, public sector enterprises and institutions, BINGOs and community organisations, which in turn represent 120,000 + Australian employees. www.bcsda.org.au.
t: +61 (0)2 8005 0780
m: +61 (0)412 545 994
For further information contact: Andrew Petersen, CEO, Business Council for Sustainable Development Australia, +61 412 545 994