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Intl. investment agreements must be in line with intl. human rights norms & law, says UN independent expert

Author: Alfred-Maurice de Zayas, UN Independent Expert on the promotion of a democratic & equitable intl. order, Published on: 15 October 2015

“Report of the Independent Expert on the promotion of a democratic and equitable international order”, 14 Jul 2015

This report addresses adverse human rights impacts of international investment agreements, bilateral investment treaties and multilateral free trade agreements on the international order…It calls for ex ante and ex post human rights, health and environmental impact assessments, and proposes a plan of action for systemic change…While recognizing that globalization may contribute to…development, experience suggests that human rights have frequently been subordinated to dogmas of market fundamentalism…[I]nternational investment agreements and investor–State dispute settlement agreements must be tested for conformity with the Charter of the United Nations and never…lead to retrogression in human rights…The Independent Expert…strongly endorses articles 1 to 10 of the 2011 Guiding Principles on Business and Human Rights…and the United Nations “Protect, Respect and Remedy” Framework…[A] sensible compromise that allows [FDI] while ensuring the protection of human rights is possible, as recognized by the Guiding Principles on Business and Human Rights…Transnationals do not exist in a vacuum and are bound by the international human rights regime…Wherever transnational corporations are registered or carry out operations, the home and host States have the responsibility to regulate them to prevent violations of human rights…[Refers to Abengoa, Bechtel, Chevron, Ethyl Corporation, Lone Pine, Metalclad, Occidental Petroleum, Philip Morris, Vattenfall, Veolia]

Download the full document here

Related companies: Abengoa Bechtel Chevron Entrx Ethyl (part of NewMarket) Metalclad (part of Entrx) NewMarket Occidental Petroleum Philip Morris International Vattenfall Veolia (formerly Vivendi Environnement)