汉江师范学院学报

传统国际投资协定偏重投资者权益的保护，限制了东道国实施气候政策的空间，致使环境措施与投资保护条款频繁产生适用冲突，并通过国际投资仲裁机制形成对国家监管权的实质性约束。不同发展程度的国家通过差异化路径探索投资协定的改革方案，但面临多边协调机制缺失、软法规范效力不足等现实困境。推进气候友好型改革应当确立“共区原则”指导下的规制权配置框架：实体规则层面，通过定义投资类型建立准入筛选机制，采用例外条款明确气候政策的合法性边界，完善规制权条款的程序性要件；程序规则层面，构建兼具专业性与平衡性的争端解决机制，最终实现气候治理与投资保护的价值衡平。

Traditional international investment agreements emphasized the protection of investors' rights and interests, which limited the space for the host countries to implement climate policies, resulted in frequent conflicts between environmental measures and investment protection clauses, and formed substantive constraints on national regulatory power through international investment arbitration mechanisms. Countries with different development levels explore the reform plan of investment agreements through differentiated paths, but face practical difficulties such as the lack of multilateral coordination mechanisms and the lack of effectiveness of soft law norms. To promote climate-friendly reform, we should establish a framework for the allocation of regulatory power under the guidance of the "common area principle" : at the level of substantive rules, we should establish an access screening mechanism by defining the type of investment, use exception clauses to clarify the legitimacy boundary of climate policies, and improve the procedural elements of regulatory power clauses; at the level of procedural rules, we should construct a dispute settlement mechanism with both professionalism and balance, and then the value balance between climate governance and investment protection is finally realized.