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Binding treaty on business & human rights is “the most decisive way to address accountability of business”, says IBON Intl.

"Step up action on corporate abuses, create binding treaty on TNCs", 01 Dec 2014

The Third Annual United Nations Forum on Business and Human Rights, taking place from 1-3 December 2014 in Geneva, faces a tide of global crises stemming from states’ failure to ensure the protection and respect for human rights…A bleak reality, however, is that since the Guiding Principles’ endorsement in 2011, implementation by countries and business remains sparse…Amid continuing human rights violations, impunity of corporate abuses and inadequate redress for victims, calls for governments to step up action are intensifying, particularly for a legally binding instrument on transnational corporations (TNCs)…While creating such a treaty regulating the operations of TNCs to ensure adherence to human rights will be an uphill battle, it is the most decisive way to address accountability both of the state and business.