Morning session

Drawing the 12th session of the Open-Ended Intergovernmental Working Group (OEIGWG) to a close, the final meeting concluded with the adoption by consensus of the session report. The Chair-Rapporteur then invited closing comments.

A key achievement of the session was the continued engagement of states and stakeholders in the treaty process, with several states reaffirming their commitment to the treaty process.

The EU highlighted its own business and human rights instruments and noted that an international framework would help reduce regulatory fragmentation. The EU and UK both noted that the treaty should be anchored in the UNGPs. Iceland, which is currently developing a national policy on business and human rights, emphasised the need for legal certainty, coherence with existing frameworks, effectiveness for victims and proportionality.

The Gulf Cooperation Council (GCC) and Saudi Arabia advocated a balanced and implementable instrument consistent with international trade and investment law. Qatar noted that contentious issues concerning scope, liability, jurisdiction and dispute settlement require further consideration.

A significant point of debate concerned the pace and ambition of the process. Mexico noted that after several years of deliberations, the OEIGWG should bring its work to a close and move towards convening negotiations to finalise and adopt a legally binding instrument (LBI). Palestine emphasised that although broad support for the instrument is important, it should not come at the expense of the treaty’s substance, advocating that the LBI should strengthen, not weaken, protections, obligations and accountability mechanisms.

The International Organisation of Employers (IOE) and the US Council for International Business (USCIB) noted the declining level of state participation and questioned whether the treaty process should continue on its current course. They reiterated that the global business community does not support the current draft, and that they consider the LBI an ‘unrealistic and punitive approach that risk undermining companies’. Global business also requested a dedicated consultation with the Chair-Rapporteur ahead of the finalisation of the fifth draft.

Civil society groups, social movements and trade unions emphasised that, voices of communities most affected by corporate abuse should shape and define the LBI. Civil society organisations (CSOs) cautioned against the narrative that a ‘balanced’, weaker LBI is needed for economic development, arguing instead that an ambitious and detailed instrument goes further to improve people’s lives. CSOs also called for greater opportunities for participation at the formal sessions and intersessional ones, including through hybrid engagement.

The Chair-Rapporteur confirmed that a revised draft is scheduled to be published in February 2027, marking the next stage of the process.