#corporatecapture #treatyprocess #bindingtreaty #corporatepower

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ESCR-Net - International Network for Economic, Social and Cultural Rights, coordinated by ESCR-Net’s Corporate Accountability Working Group, submitted remarks to the UN open-ended intergovernmental working group on transnational corporations and other business enterprises, reaffirming its support for a legally binding instrument based on the third revised draft, with stronger provisions for corporate accountability. ESCR-Net emphasizes the need for urgent action by States to stop corporate capture, end corporate impunity, and establish effective mechanisms for remedying and compensating affected communities, including historically marginalized groups, with comprehensive attention to gender and diversity considerations.

From 24 - 28 October, a delegation of ESCR-Net members attended the 8th session of the negotiations for a Legally Binding Instrument on business and human rights (OIGWG). Alongside allies, members advocated for an instrument to regulate corporate power, and also against corporate capture of the treaty process and of the UN more generally.