Fifty years permanent sovereignty over natural resources: The 1962 UN declaration as the opinio iuris communis

Abstract

This chapter analyses the evolution of permanent sovereignty over natural resources by reference to its two main roots, self-determination of peoples and sovereignty of States; the formulation and adoption of the 1962 Declaration; the further phases in the evolution of the principle; the right holders and the objects to which it relates; and the reflection of the principle in sources of international law, such as treaty law and judicial decisions. The chapter emphasizes the new directions the principle has taken in an increasingly interdependent world by giving rise to duties as well as rights. In this way the principle of PSNR serves at the core of law-making efforts in the field of foreign investment regulation, global and national resource management, environmental conservation and sustainable development. The 1962 Declaration proves to be of lasting value in all these fields formulating as it does the opinio iuris communis on some principal dimensions.