Transnational Corporations and the International Human Rights Regime Essay

Transnational Corporations and the International Human Rights Regime - Essay Example Thus, a gap in governance exists, between the scope and influence of economic actors and the market forces on the one hand, and the capability of societies to address and manage the harmful effects created by globalization, on the other hand. The UN’s Human Rights Council takes the position that ‘governance gaps’ created by the speed of globalization and the failure of states to keep pace in their capacities to provide the necessary regulatory frameworks enable the ‘permissive environment’ that allows for the ‘wrongful acts by companies of all kinds without adequate sanctioning or reparation.’ There is also a need to clearly define the standards against which the actions of transnational corporations are to be assessed, and the process in addressing perceived violations. It is necessary, prior to enforcement of sanctions, to identify the elements which determine the culpability of the accused corporation. In many cases, there is a lack of precedent according to which the new cases are to be judged. There is likewise uncertainty about the legal procedure to be followed, the vesting of jurisdiction in the proper authority, even the identification of the tribunal to hear the case. Light also needs to be shed on the protocol as to how claim may be made and the party with the personality to make it, and the protections which the accused corporation may avail itself of in warding off false claims and accusations. Human rights upon which business has an impact: standards of compliance Much will be said in the course of this discussion about those human rights upon which business has significant impact. An enumeration of these rights is shown in the appendix, and the rights are classified into two – the labour rights, and the non-labour rights.2 The list was compiled