High time transnational corporations are held to account for human rights violations
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One of the major processes at the United Nations (UN) that gives hope for a better tomorrow where "no one is left behind" is the UN binding treaty on transnational corporations and other business enterprises with respect to human rights.
History is marred with examples how transnational trade and businesses kept profit over people. Domestic laws and legal frameworks failed to hold abusive transnational corporations to account for not just human rights abuses but also for environmental damages (often irreparable loss like that of biodiversity). That is why we urgently need strong legally binding mechanisms globally to end all forms of corporate capture.
Governments need to walk the talk on the promise of sustainable development where "no one is left behind". When corporate power undermines democracy and democratic processes, a large number of people are left to deal with a range of injustices, inequalities and abuses, as well as, climate crisis deepens which further exacerbates the impact on the poor people.
People's Representatives globally call for UN binding treaty
This week UN Inter-governmental Working Group (IGWG) is discussing a global binding treaty on "transnational corporations and other business enterprises with respect to human rights".
Interest in this process continues to grows as evidenced in the significant presence of government delegations, civil society and elected officials worldwide. 321 members of regional and national parliaments, as well as municipal authorities have endorsed the Call of People's Representatives Worldwide for the UN Binding Treaty.
Charles Santiago, Member of the Parliament of Malaysia stated, "Prices of medicines are very high and people are dying because of that. This is a consequence of the monopolies controlled by transnational corporations. The emerging movement for UN binding regulations to tackle power of transnational corporations, is encouraging for all of us."
Delegates from over 40 countries representing communities affected by transnational corporations' human rights violations, social movements, trade unions and civil society organisations are speaking up too. These are the voices of affected people that should be in the centre of these negotiations.