Our Panel on reforms of the Investor-State Dispute Settlement (ISDS) system will discuss the reforms that have been proposed at ICSID and UNCITRAL’s Working Group III, the efforts by the major institutions to reform their rules, the impact that they could have on the ISDS system, and whether the reform proposals—especially whether the adjudication body should be a standing court or an appellate mechanism—can effectively solve the criticisms against the ISDS system. In particular, the panelists will be sharing their views on the following topics: Proposal for amendment of the ICSID Rules in the recent Working Paper #5 The viability of a Multilateral Investment Court (MIC) The compatibility of the appellate mechanism with existing ISDS mechanisms The second version of the Draft Code of Conduct discussed at the November 2021 UNCITRAL Session