"UN Treaty on business and human rights vital for economic and social justice" 28 Oct 2019

The global economic model has failed working people. The power and greed of huge corporations have captured governments, which are acting against the rights and interests of their own workers.

The current model of trade—the bulk of it tied to global supply chains, in highly-competitive, low-cost markets... Ninety-four per cent of the global workforce of the top 50 corporations is hidden in supply chains, where the obscurity of business contracts facilitates this exploitation and too often a dehumanising oppression...

Transnational business cannot and will not be sustainable unless it is based on the principles of decent work. Yet international law is not well equipped to address cross-border corporate abuses of human and labour rights...

A legally-binding global instrument on business and human rights could help close accountability gaps and combat corporate impunity...

In June 2014, the UN Human Rights Council (HRC) adopted Resolution 26/9, establishing an Intergovernmental Working Group (IGWG) tasked with the elaboration of an international legally-binding instrument to regulate, in international human-rights law, the activities of transnational corporations and other business enterprises...