Punishment for companies
Organizations call for treaty to hold corporations accountable
Civil society organizations have joined forces to call for the creation of an international treaty to guarantee that human rights are protected from the activities of transnational companies. Corporations involved in operations that result in environmental degradation or human rights violations frequently benefit from investment agreements that grant them certain privileges. There is, however, no regulation on the international level requiring States to ensure that the operations of these companies are conducted without causing violations.
As things currently stand, corporations are regulated exclusively by domestic laws, despite the fact that they operate internationally, which often results in impunity when abuses occur. Based on the discussions on transnational companies held by the IWG (Intergovernmental Working Group of the United Nations), civil society organizations defend the creation of an international treaty that serves as a legally binding instrument to regulate companies on human rights, since, they claim, “this is the only way it will be possible to increase the protection of the affected individuals and communities and give them access to effective remedy, in particular through legal mechanisms”.
The organizations also argue that, to be successful, the third session of the IWG – that will take place from October 23-27 this year – must encourage a constructive negotiation between States on the content and scope of the proposed treaty. Additionally, they are also asking the Working Group to guarantee a participatory approach that includes civil society perspectives and establishes a roadmap for completing the negotiations within a short period of time.
The organizations that signed a manifesto for the creation of the treaty argue that it “must stipulate the supremacy of human rights law over the corporate rights and privileges that are enshrined in the biased and unfair framework created by commercial and investment agreements”.
