ABSTRACT
Awarding compensation has had a mixed practice in international law. While the International Court of Justice (ICJ) has only ever made three compensation awards, pecuniary relief is common in other areas of international law such as investor-State dispute settlement. This chapter appraises the general principles that have governed compensation as a means of reparation. It surveys, in particular, the guidance provided by the Draft Articles on the Responsibility of States for Internationally Wrongful Acts and their commentaries, the major approaches to valuation adopted by international courts and tribunals, including approaches to the valuation of non-pecuniary damage and the role that equitable considerations can play in this context.
