GREECE Trends and Developments Contributed by: John Dryllerakis, Claire Sergaki and Vasileios Plakoulas, Dryllerakis Law Firm
Large companies are increasingly incorporating a vast series of ESG-related clauses in their commercial agreements, such as joint ventures or supplier con - tracts, often imposing strict consequences for non- compliance. As noted in the IBA Report on the use of ESG contractual obligations, international arbitration is widely expected to become the preferred forum for resolving said contractual disputes. In the same context for states, complying with these ESG obligations has become an increasingly chal - lenging task given the complex interplay between FDI and international environmental and social commit - ments. It is therefore unsurprising that, as reported by the UN Conference on Trade and Development (UNCTAD), approximately 15% of cases adjudicated under BIT dispute resolution mechanisms now involve ESG-related obligations. ESG concerns are also beginning to influence the arbitral process itself, as parties, tribunals and institu - tions advocate for greener, fairer and more transparent proceedings. In terms of the environmental aspect, arbitration stakeholders have moved away from paper submissions and hard-copy evidence, embracing dig - ital filings as the norm. Hearings are now conducted either in hybrid format or fully via videoconference. Notably, the updated 2025 SIAC Arbitration Rules explicitly encourage tribunals to consult with the par - ties on whether it would be appropriate to adopt envi - ronmentally sustainable procedures in the conduct of the arbitration. Regarding the social aspect, it is undeniable that arbi - tral institutions are striving for greater diversity and inclusion with respect to the appointments of arbitra - tors and the composition of their governing bodies and of their memberships. In this context, the Court of Arbitration of the International Chamber of Commerce has launched a task force on “Disability Inclusion and International Arbitration”, as well as the “LGBTQIA network”. With respect to the governmental aspect, arbitral institutions are issuing practice notes and guidelines in order to better streamline their procedures and safeguard the integrity of the arbitration proceedings administered by them. To enhance the transparency
of arbitration, institutions such as the International Chamber of Commerce and, most recently, the Sin - gapore International Arbitration Centre are pushing for the anonymised/redacted publication of arbitral awards. Agreements with the Greek state A significant number of international arbitration cases in Greece arise from contracts between private enti - ties and the Greek government or Greek state entities. Indeed, the Greek state (when acting as fiscus) and various state entities have concluded several con - tracts with foreign or domestic private entities in rela - tion to the implementation of large-scale projects that pertain to the construction of significant works, the supply of materials and the exploitation of its rights. In all such contracts, the state has opted for arbitra - tion, also taking the preference of the foreign entities for a neutral forum into consideration. In particular, arbitration conducted under the rules of the Interna - tional Chamber of Commerce (ICC) remains one of the top picks in contracts for the supply of military material, whilst arbitration under the rules and admin- istration of the LCIA is often selected in agreements conceding rights of the state to private entities for a The Greek construction sector experienced a notable expansion in 2024, as evidenced by a rise of more than 20% in the Construction Production Index, which is a clear indication of the sector’s continued upward trajectory and strong performance. Arbitration is fre - quently the preferred method of resolution for con - struction disputes, which are characterised by tech - nical complexity, necessitating their adjudication by specialised arbitrators who have industry knowledge and are aware of the highly technical details. certain amount of time. Construction arbitration Arbitration is also the preferred method of dispute res - olution because it is capable of efficiently addressing the wide variety of claims from all parties involved in such large-scale projects. Contractors, subcontrac - tors and suppliers often bring claims with respect to delays in payments and/or the provision of material or services, defective works and damages arising there - from. Consequently, numerous arbitration cases arise,
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