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Globalization has brought upon a normalcy of different types of international business through Transnational Corporations(TNCs)to our doorsteps,which have become the means which makes our living simpler and more modern.But the fact is that everything has its own price,so does globalization.
Today,TNCs have started playing an important role in the communities where they stand,by its enormous involvement in the development projects of states.Hence,having a huge impact on the welfare and development of the state and its citizens,puts states into a position where they have become paralyzed and unable to regulate TNCs,though states still have a legal obligation to protect its citizens under international law.The inability to reconcile these two different positions have resulted in continuous violations and abuses of human rights.
Though not binding,up to date,there have been several initiatives by the international community to regulate the activities of TNCs.Among them,the Norms(The United Nations Draft Norms on the Responsibility for Transnational Corporations and other Business Enterprises)and the United Nations Guiding Principle(UNGP)is specifically designed to regulate the activities of TNCs with regard to its human right violations.
But to date,these voluntary initiatives have not adequately managed the injustice done to the victims of the human right violations by TNCs.While the need for an international and binding instrument to hold TNCs accountable for their violations of human rights,the Inter-Governmental Working Group(IGWG)has so far issued two drafts of the proposed treaty on business and human rights,respectively theZero Draftissued on July,2018and theRevised Draftissued on July2019.
The core thrust of this thesis is to examine the current drafts on business and human rights treaty,as to whether the drafts are able to fulfill of the regulatory gaps in the current frameworks on business and human rights.
The findings of the thesis will illustrate that the treaty can be more effective if the treaty provisions require legal enforcing direct obligations to TNCs under international law and if it will require the creation of a clear and enforceable international remedial mechanism to provide justice to the victims of human right violations.
Today,TNCs have started playing an important role in the communities where they stand,by its enormous involvement in the development projects of states.Hence,having a huge impact on the welfare and development of the state and its citizens,puts states into a position where they have become paralyzed and unable to regulate TNCs,though states still have a legal obligation to protect its citizens under international law.The inability to reconcile these two different positions have resulted in continuous violations and abuses of human rights.
Though not binding,up to date,there have been several initiatives by the international community to regulate the activities of TNCs.Among them,the Norms(The United Nations Draft Norms on the Responsibility for Transnational Corporations and other Business Enterprises)and the United Nations Guiding Principle(UNGP)is specifically designed to regulate the activities of TNCs with regard to its human right violations.
But to date,these voluntary initiatives have not adequately managed the injustice done to the victims of the human right violations by TNCs.While the need for an international and binding instrument to hold TNCs accountable for their violations of human rights,the Inter-Governmental Working Group(IGWG)has so far issued two drafts of the proposed treaty on business and human rights,respectively theZero Draftissued on July,2018and theRevised Draftissued on July2019.
The core thrust of this thesis is to examine the current drafts on business and human rights treaty,as to whether the drafts are able to fulfill of the regulatory gaps in the current frameworks on business and human rights.
The findings of the thesis will illustrate that the treaty can be more effective if the treaty provisions require legal enforcing direct obligations to TNCs under international law and if it will require the creation of a clear and enforceable international remedial mechanism to provide justice to the victims of human right violations.