Urgent Need For Legally Binding Obligations On Transnational Corporations
On 26 june 2014 the UN Human Rights Council adopted resolution 26-9 giving an intergovernmental working group a mandate to elaborate and an international legally binding framework of human rights law with respect to the activities of Transnational Corporations. Here's a clip of the second session of the working group as Susan George is given the floor.
Susan George's statement starts at 2:11
To redress an imbalance between the rights and responsibilities of transnational corporations (TNC) at the international level a human rights resolution has been adopted on the 26th of June 2014.
TNCS have argued for and against internationally legally binding rules. For example they lobbied for one of the most important UN treaties of the 20th century the UN multilateral trade agreement that came into force in 1995 with the creation of the world trade organisation. With that they protect rights of TNCs on an international scale. However a system put in place to prevent abuse by TNCs internationally has been argued against, stating that TNCS are best left to self-regulate.
The series by the Real News can be found here