Socio-Economic Rights

The discourse on corporate accountability for human rights violations has been shaped to a great extent by the United Nations Guiding Principles on Business and Human Rights (UNGPs), resulting from the work of John Ruggie, the UN Secretary-General’s Special Representative for Business and Human Rights.

Attracting foreign investment while holding transnational corporations to account for any human rights transgressions is by no means an easy feat. It will require that a careful balance be struck between the interests of the host State and its people, and that of private actors expecting good risk-return ratios in pursuit of the bottom line. Although international mechanisms such as the United Nations Committee on Economic, Social and Cultural Rights have long endorsed accountability for transnational corporations, a zero draft international convention to regulate this issue has only recently been developed.