Most investor-state research studies treaties. UNCTAD's newest report studies statutes instead — and finds the same risks hiding in plainer sight. Background UNCTAD published Investment Policy Monitor, Issue No. 32, on 4 December 2025, under the title Investor–State Arbitration under Investment Laws: Risks and Policy Lessons. It builds on the earlier Investment Policy Monitor No. 29, which had tracked global trends in the drafting of national investment laws, and turns instea

UNCITRAL WGIII produces a complete, dated, public drafting record going back a decade. Read as a corpus rather than as doctrine, it becomes measurable.