I thank the member for the question.
That's a very key question. It goes to the balance of these types of investment protections, balancing the protection of the investor in the foreign state with the right to regulate, as you say, which is absolutely key.
I think you can look at an agreement like the CPTPP and see that there have been great efforts to try to address that balance. From an academic and practitioner point of view, the States' position is certainly well represented to make sure that the right to regulate is considered. As an individual who has been counsel in these types of cases of international arbitrations and an arbitrator, I believe there is a balance and that tribunals are certainly taking well into consideration the government issues.
In terms of the types of provisions, it really goes to the types of substantive standards, which I think you can see have well taken care of that issue of the right to regulate.