ABSTRACT
On 26 June 2014, the UN Human Rights Council approved Resolution A/HRC/26/L.22/Rev.1 on the establishment of the Open-Ended Intergovernmental Working Group (OEIWG) on transnational corporations and other business enterprises with respect to human rights. The task of this working group is to elaborate the establishment of an international instrument that binds the human rights responsibilities of multinational corporations. Up until the second session of 2016, the OEIWG has discussed the possible contents, scope, mechanism and form of this binding instrument. The supporters of this international instrument believe that this binding treaty could strengthen victims’ access to remedies, as it will directly hold multinational corporations responsible for violating human rights at an international level. So far, states have failed to provide an effective remedy, therefore a joint mechanism at an international level is needed. An effective remedy could be reached by providing measures to remove the substantial procedural and financial constraints experienced by victims. These barriers have been the problem in holding the companies responsible for human rights abuses. On the other hand, experts and human rights activists reject this idea on the grounds that there will be difficulties in defining the scope of the human rights responsibilities of multinational corporations. Further, states will also use this binding treaty as a reason to transfer responsibility for the protection of human rights to companies. Thus, there is a risk that the obligation to protect human rights may be shared with corporations. This paper discusses the opportunities and challenges of the proposed international binding treaty on business and human rights. It is found that the proposed legally binding instrument is a significant step forward in the area of business and human rights. It may significantly reduce the time and resources for litigation and, in the end, provide better access to remedies for the victims of corporate wrongdoings.
