Campaign calls for proposed binding treaty to “dismantle corporate power and stop impunity”

Author: Juan Hernández Zubizarreta, Univ. of Basque Country, for Transnational Institute, Published on: 26 January 2015

"The New Global Corporate Law", 13 Jan 2015

The global economic crisis that unfolded in 2009 was significant not just for the questions it raised over the power of big finance, but also for the attention it drew to other crises facing our planet – notably food, ecology and care work. What has been given less attention is the national and international legal systems that underpin these crises and the way legislation has been skewed in favour of capital and transnational corporations...Voluntary multilateral instruments adopted in recent decades clearly reflect this rupture in the normative hierarchy of the human rights protection system...Being voluntary, the basis of the [Guiding Principles on Business and Human Rights] is similar to that of corporate social responsibility, by which corporations voluntarily accept to adopt unbinding, internal ethical codes of conduct – many say as a public relations exercise to hide damaging activities...[I]n order to create instruments that exert real control over corporations’ operations, various social movements...have jointly elaborated the International Peoples Treaty, [which aims] to “build and analyse international law ‘from below’, from the point of view of social movements and of resistance struggles of men and women – and not from the economic and political elite’s state-centred vision”...[Refers to Chevron, Repsol YPF, YPF]

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Related companies: Chevron Repsol YPF YPF